A3. 9.1 Prepare journal entries for the following transactions from Forest Furniture. 3 Sold 2 couches with a sales price of $2,450 per couch to customer Norman Guzman. Norman Guzman paid with his Draw Plus credit card. The Draw Plus credit card charges Forest Furniture a 3.5% usage fee based on the total sale per transaction. The cost for this sale is $1,700 per couch. 6 Sold 4 end chairs for a total sales price of $1,250 to April Orozco. April paid in full with cash. The cost of the sale is $800. 9 Sold 18 can lights with a sales price of $50 per light to customer James Montgomery. James Montgomery paid using his Fund Max credit card. Fund Max charges Forest Furniture a 2.4% usage fee based on the total sale per transaction. The cost for this sale is $29 per light. 12 Draw Plus made a cash payment in full to Forest Furniture for the transaction from Oct 3, less any usage fees. 15 Fund Max made a cash payment of 25% of the total due to Forest Furniture for the transaction from October 9th, less any usage fees. 25 Fund Max made a cash payment of the remainder due to Forest Furniture for the transaction from October 9, less any usage fees.
A3. 9.1 Prepare journal entries for the following transactions from Forest Furniture. 3 Sold 2 couches with a sales price of $2,450 per couch to customer Norman Guzman. Norman Guzman paid with his Draw Plus credit card. The Draw Plus credit card charges Forest Furniture a 3.5% usage fee based on the total sale per transaction. The cost for this sale is $1,700 per couch. 6 Sold 4 end chairs for a total sales price of $1,250 to April Orozco. April paid in full with cash. The cost of the sale is $800. 9 Sold 18 can lights with a sales price of $50 per light to customer James Montgomery. James Montgomery paid using his Fund Max credit card. Fund Max charges Forest Furniture a 2.4% usage fee based on the total sale per transaction. The cost for this sale is $29 per light. 12 Draw Plus made a cash payment in full to Forest Furniture for the transaction from Oct 3, less any usage fees. 15 Fund Max made a cash payment of 25% of the total due to Forest Furniture for the transaction from October 9th, less any usage fees. 25 Fund Max made a cash payment of the remainder due to Forest Furniture for the transaction from October 9, less any usage fees.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
PA3. 9.1 Prepare
- 3 Sold 2 couches with a sales price of $2,450 per couch to customer Norman Guzman. Norman Guzman paid with his Draw Plus credit card. The Draw Plus credit card charges Forest Furniture a 3.5% usage fee based on the total sale per transaction. The cost for this sale is $1,700 per couch.
- 6 Sold 4 end chairs for a total sales price of $1,250 to April Orozco. April paid in full with cash. The cost of the sale is $800.
- 9 Sold 18 can lights with a sales price of $50 per light to customer James Montgomery. James Montgomery paid using his Fund Max credit card. Fund Max charges Forest Furniture a 2.4% usage fee based on the total sale per transaction. The cost for this sale is $29 per light.
- 12 Draw Plus made a cash payment in full to Forest Furniture for the transaction from Oct 3, less any usage fees.
- 15 Fund Max made a cash payment of 25% of the total due to Forest Furniture for the transaction from October 9th, less any usage fees.
- 25 Fund Max made a cash payment of the remainder due to Forest Furniture for the transaction from October 9, less any usage fees.
Transcribed Image Text:1 Problem PA3
2
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POST.
DATE
DESCRIPTION
REF.
DEBIT
CREDIT
1| 20--
2 |Oct
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Transcribed Image Text:2 Problem PA3
3
4
POST.
DATE
DESCRIPTION
REF.
DEBIT
CREDIT
6
7
1
20-
8
2 |Oct
9.
3
10
4
11
15
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6.
16
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3
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