Consider the following transaction: On March 6, Fun Cardssells 590 card decks with a sales price of $10 per deck toPadma Singh. The cost to Fun Cards is $3 per deck.Prepare a journal entry under each of the followingconditions. Assume MoneyPlus charges a 3% fee for eachsales transaction using its card.А.Payment is made using a credit, in-houseасcount.В.Payment is made using a MoneyPlus credit card.If an amount box does not require an entry, leave it blank.Round your answers to two decimal places.88A. Mar. 6To record sale of card decksMar. 6To record cost of saleB. Mar. 6To record sale of card decks, 3% credit card fee88Mar. 6To record cost of saleII II 1II I0

Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

Answered: ade using a MoneyPlus credit card.

Business

Accounting

ade using a MoneyPlus credit card.

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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Question

Consider the following transaction: On March 6, Fun Cards
sells 590 card decks with a sales price of $10 per deck to
Padma Singh. The cost to Fun Cards is $3 per deck.
Prepare a journal entry under each of the following
conditions. Assume MoneyPlus charges a 3% fee for each
sales transaction using its card.
А.
Payment is made using a credit, in-house
асcount.
В.
Payment is made using a MoneyPlus credit card.
If an amount box does not require an entry, leave it blank.
Round your answers to two decimal places.
88
A. Mar. 6
To record sale of card decks
Mar. 6
To record cost of sale
B. Mar. 6
To record sale of card decks, 3% credit card fee
88
Mar. 6
To record cost of sale
II II 1II I0

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