Question
You are advised to spend 10 minutes on this question You have the following transactions that occurred during April and May in the books of
You are advised to spend 10 minutes on this question
You have the following transactions that occurred during April and May in the books of Lockhart company:
On the 9thof April, Lockhart provided services for customers with a cost of $13,000 2/10 n/40
On the 15thof April, Steve (a customer) have used Lockhart store credit card to purchase goods with a selling price of $800
On the 17thof April, sales to customers through HSBC bank credit card total of $20,000. The bank deducts a commission of4%
At the end of April, 4% interest is added to all store credit card sales outstanding balances
On the 8hof May, a note receivable was recognized in settlement of unpaid account receivable total of $30,000
At the end of May, Lockhart sold 370,000 of its account receivable to Dean factoring which charges 4% commission.
you are required to journalese the required journal entry for each transaction in the books of Lockhart company
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