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Presented below are two independent situations. 1. On March 15, 50 customers used debit cards to purchase merchandise for a total of $9,800.00 from Wildhorse.
Presented below are two independent situations. 1. On March 15, 50 customers used debit cards to purchase merchandise for a total of $9,800.00 from Wildhorse. Wildhorse pays a $1.22 debit card fee for each transaction. 2. On June 21 , Oriole Creations Gallery sells a painting to Patricia Johnson for $1,900. Patricia uses her Visa bank credit card to pay for the purchase. The bank charges Oriole Creations a 4.0% fee for all credit card transactions. On July 17, Patricia receives her Visa bill and pays for this purchase. Prepare Oriole Creations' journal entries for the transactions in part (2). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
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