Required information$3054Knowledge Check 01Messing Company has an agreement with a third-party credit card company, which calls for cash to be received immediately upondeposit of customers' credit card sales receipts. The credit card company receives 3.5 percent of card sales as its fee. Messing has$4,000 in credit card sales on January 1.Prepare the January 1 journal entry for Messing Company by selecting the account names from the drop-down menus and entering thedollar amounts in the debit or credit columns.View transaction listJournal entry worksheet<1Messing Company has an agreement with a third-party credit card company,which calls for cash to be received immediately upon deposit of customers'credit card sales receipts. The credit card company receives 3.5 percent ofcard sales as its fee. Messing has $4,000 credit card sales on January 1.Note: Enter debits before credits.DateJanuary 01 CashRGeneral JournalT6--H4-Debit< PrevUCredit8Sof 18(##9Next >D11O

Credit Card Expense - Credit Card Expenses are the Expense incurred by the company due to immediate…

Knowledge Check 01 Messing Company has an agreement with a third-party credit card company, which calls for cash to be received immediately upon deposit of customers' credit card sales receipts. The credit card company receives 3.5 percent of card sales as its fee. Messing has $4,000 in credit card sales on January 1. Prepare the January 1 journal entry for Messing Company by selecting the account names from the drop-down menus and entering t dollar amounts in the debit or credit columns.

Knowledge Check 01 Messing Company has an agreement with a third-party credit card company, which calls for cash to be received immediately upon deposit of customers' credit card sales receipts. The credit card company receives 3.5 percent of card sales as its fee. Messing has $4,000 in credit card sales on January 1. Prepare the January 1 journal entry for Messing Company by selecting the account names from the drop-down menus and entering t dollar amounts in the debit or credit columns.

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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Jul 13 The owner, Jen Beck, withdrew $2,000 cash for personal use, Check No. 78. Memorize the transaction for payments every two weeks. Next payment is July 27, 2022. Just tell me in quickbooks where do i record this transaction? bill (enter bills window) credit (enter bills window) bill pmt - check (pay bills window) check (write checks window) invoice (create invoices window) payment (receive payments window) sales receipt (enter sales receipts window) deposit (make deposit window) general journal (make general journal entries window) inventory adjust (adjust quantity/value on hand window) sales tax payment (pay sales tax window) paycheck (pay employees window) liability check (pay payroll liabilities window) transfer (transfer funds between accounts window) credit card charge (enter credit card charges window) credit memo (create credit memos/refunds window) discounts (receive payments window)
Vail Company recorded the following transactions during November. Date General Journal Debit Credit November 5 Accounts Receivable-Ski Shop 4,948 Sales 4,948 November 10 Accounts Receivable-Welcome Incorporated Sales 1,758 1,758 November 13 Accounts Receivable-Zia Company Sales 1,031 1,031 November 21 Sales Returns and Allowances 266 Accounts Receivable-Zia Company 266 November 30 Accounts Receivable-Ski Shop 3,665 Sales 3,665 1. Post these entries to both the general ledger accounts and the accounts receivable ledger subsidiary ledger accounts. 2. Prepare a schedule of accounts receivable. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post these entries to both the general ledger accounts and the accounts receivable ledger subsidiary ledger accounts. General Ledger Accounts Receivable Ending Balance 0 0 Sales Ending Balance Sales Returns and Allowances Ending Balance 0 Accounts Receivable Subsidiary Ledger Ski Shop Ending Balance 0 0 Zia…
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(b) On May 10, Oriole Company sold merchandise for $12,200 and accepted the customer's America Bank MasterCard. America Bank charges a 4% service charge for credit card sales. Prepare the entry on Oriole Company's books to record the sale of merchandise. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles Debit Credit May 10
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