Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Transactions follow for the Crane Sports Ltd. store and four of its customers in the company's first month of business: June 3 6 9 19

image text in transcribed
image text in transcribed
image text in transcribed
Transactions follow for the Crane Sports Ltd. store and four of its customers in the company's first month of business: June 3 6 9 19 Ben Kidd used his Crane Sports credit card to purchase $1.110 of merchandise. Biljana Pavic used her MasterCard credit card to purchase $800 of merchandise. MasterCard charges a 2.5% service fee Nicole Montpetit purchased $407 of merchandise on account, terms 2/10./30. Bonnie Cutcliffe used her debit card to purchase $248 of merchandise. There is a $0.50 service charge on all debit card transactions Ben Kidd made a $321 payment on his credit card account. Nicole Montpetit purchased an additional $498 of merchandise on account, terms 2/10,1/30. Nicole Montpetit paid the amount owing on her June 9 purchase. Biljana Pavic used her MasterCard to purchase 5440 of merchandise, MasterCard charges a 2.5% service fee. 20 23 25 30 Record the above transactions. Ignore any inventory, cost of goods sold, and refund liability entries for the purposes of this question, (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 for the amounts. Round answers to 2 decimal places, es 52.75. Record journal entries in the order presented In the problem.) Debit Credit Date Account Titles and Explanation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management and Cost Accounting

Authors: Colin Drury

8th edition

978-1408041802, 1408041804, 978-1408048566, 1408048566, 978-1408093887

Students also viewed these Accounting questions

Question

Why does a motor also tend to act as a generator?

Answered: 1 week ago