## Current Attempt in ProgressCrane Company has the following accounts in its general ledger as of July 31: Accounts Receivable $32,800 and Allowance for Doubtful Accounts $2,050. During October, the following transactions occurred:- **Oct. 15**: Sold $13,100 of accounts receivable to Nelson Factors, Inc., who assesses a 4% finance charge.- **Oct. 25**: Made sales of $800 on VISA credit cards. The credit card service charge is 3%.### Journalize the Transactions(Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit

Crane Company has the following accounts in its general ledger at July 31: Accounts Receivable $32,800 and Allowance for Doubtful Accounts $2,050. During October, the following transactions occurred. Oct. 15 Sold $13,100 of accounts receivable to Nelson Factors, Inc. who assesses a 4% finance charge. 25 Made sales of $800 on VISA credit cards. The credit card service charge is 3%. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit <

Crane Company has the following accounts in its general ledger at July 31: Accounts Receivable $32,800 and Allowance for Doubtful Accounts $2,050. During October, the following transactions occurred. Oct. 15 Sold $13,100 of accounts receivable to Nelson Factors, Inc. who assesses a 4% finance charge. 25 Made sales of $800 on VISA credit cards. The credit card service charge is 3%. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit <

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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naru
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