Home Appliances allows customers to pay for merchandise with cash, debit cards, bank creditcards, or a Home Appliance Credit Card. The bank charges Home Appliances $1.00 for each debitcard sale and a 4% fee for bank credit card sales. On September 25 a customer makes a $1,200purchase from Home Appliances using her debit card.1.Instructions:Prepare Home Appliances' journal entry to record this transaction.b. Assume instead the customer pays for her purchase using her Mastercard. Record thea.transaction.С.Assume instead the customer uses her Home Appliances store credit card. Record thetransaction.

The procedure of entering business transactions for the first time in the books of accounts is known…

1. Home Appliances allows customers to pay for merchandise with cash, debit cards, bank credit cards, or a Home Appliance Credit Card. The bank charges Home Appliances $1.00 for each debit card sale and a 4% fee for bank credit card sales. On September 25 a customer makes a $1,200 purchase from Home Appliances using her debit card. ructions: a. Prepare Home Appliances' journal entry to record this transaction. b. Assume instead the customer pays for her purchase using her Mastercard. Record the transaction. C. Assume instead the customer uses her Home Appliances store credit card. Record the transaction.

1. Home Appliances allows customers to pay for merchandise with cash, debit cards, bank credit cards, or a Home Appliance Credit Card. The bank charges Home Appliances $1.00 for each debit card sale and a 4% fee for bank credit card sales. On September 25 a customer makes a $1,200 purchase from Home Appliances using her debit card. ructions: a. Prepare Home Appliances' journal entry to record this transaction. b. Assume instead the customer pays for her purchase using her Mastercard. Record the transaction. C. Assume instead the customer uses her Home Appliances store credit card. Record the transaction.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Nn.195. Subject:- Account
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Subject: acounting