Question
Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions: (If an amount box does not require an entry, leave
Sales-Related Transactions, Including the Use of Credit Cards
Journalize the entries for the following transactions: (If an amount box does not require an entry, leave it blank.)
a. Sold merchandise for cash, $21,230. The cost of the goods sold was $12,740. (Record the sale first.)
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| fill in the blank 27f13cfcafc403b_11 | fill in the blank 27f13cfcafc403b_12 |
b. Sold merchandise on account, $13,430. The cost of the goods sold was $8,060. (Record the sale first.)
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c. Sold merchandise to customers who used MasterCard and VISA, $117,860. The cost of the goods sold was $70,720. (Record the sale first.)
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d. Sold merchandise to customers who used American Express, $42,870. The cost of the goods sold was $25,720. (Record the sale first.)
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e. Received and paid an invoice from National Clearing House Credit Co. for $6,580, representing a service fee paid for processing MasterCard, VISA, and American Express sales.
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| fill in the blank 204e1405a01ffd6_5 | fill in the blank 204e1405a01ffd6_6 |
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
