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Transactions follow for the Wildhorse Sports Ltd. store and four of its customers in the company's first month of business: June 3 Ben Kidd used
Transactions follow for the Wildhorse Sports Ltd. store and four of its customers in the company's first month of business: June 3 Ben Kidd used his Wildhorse Sports credit card to purchase $1,060 of merchandise. 6 Biljana Pavic used her MasterCard credit card to purchase $920 of merchandise. MasterCard charges a 2.5% service fee. 9 Nicole Montpetit purchased $432 of merchandise on account, terms 2/10,n/30. 19 Bonnie Cutcliffe used her debit card to purchase $216 of merchandise. There is a $0.50 service charge on all debit card transactions. 20 Ben Kidd made a $293 payment on his credit card account. 23 Nicole Montpetit purchased an additional $546 of merchandise on account, terms 2/10, n/30. 25 Nicole Montpetit paid the amount owing on her June 9 purchase. 30 Biljana Pavic used her MasterCard to purchase $440 of merchandise. MasterCard charges a 2.5% service fee. 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 O for the amounts. Round answers to 2 decimal places, e.g. 52.75. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record sale using debit card.) > (Collection on credit card sale.)
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