Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $3,400 (that had cost $2,513) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. April 12 Sold merchandise for $8,400 (that had cost $5,443) and accepted the customer's Continental Card. Continental charges a 2.5% fee. Prepare journal entries to record the above credit card transactions of Levine Company. Note: Round your answers to the nearest whole dollar amount. View transaction list Journal entry worksheet < 1 2 3 4 Sold merchandise for $8,400 and accepted the customer's Continental Card. Continental charges a 2.5% fee. Note: Enter debits before credits. General Journal Debit Credit Date April 12 Cash Credit card expense Sales
Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $3,400 (that had cost $2,513) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. April 12 Sold merchandise for $8,400 (that had cost $5,443) and accepted the customer's Continental Card. Continental charges a 2.5% fee. Prepare journal entries to record the above credit card transactions of Levine Company. Note: Round your answers to the nearest whole dollar amount. View transaction list Journal entry worksheet < 1 2 3 4 Sold merchandise for $8,400 and accepted the customer's Continental Card. Continental charges a 2.5% fee. Note: Enter debits before credits. General Journal Debit Credit Date April 12 Cash Credit card expense Sales
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter9: Sales And Purchases
Section: Chapter Questions
Problem 8E: Toby Company had the following sales transactions for March: Mar. 6Sold merchandise on account to...
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![Levine Company uses the perpetual inventory system.
April 8 Sold merchandise for $3,400 (that had cost $2,513) and accepted the customer's Suntrust Bank Card. Suntrust
charges a 4% fee.
April 12 Sold merchandise for $8,400 (that had cost $5,443) and accepted the customer's Continental Card. Continental
charges a 2.5% fee.
Prepare journal entries to record the above credit card transactions of Levine Company.
Note: Round your answers to the nearest whole dollar amount.
View transaction list
Journal entry worksheet
1
2
3
4
Sold merchandise for $8,400 and accepted the customer's Continental Card.
Continental charges a 2.5% fee.
Note: Enter debits before credits.
General Journal
Debit
Credit
Date
April 12
Cash
Credit card expense
Sales](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa67d70cf-568c-4c25-b78c-f15f225576f5%2Fb0aa9052-ee0a-4a65-bd70-a30633c5239c%2Fnq79ah_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Levine Company uses the perpetual inventory system.
April 8 Sold merchandise for $3,400 (that had cost $2,513) and accepted the customer's Suntrust Bank Card. Suntrust
charges a 4% fee.
April 12 Sold merchandise for $8,400 (that had cost $5,443) and accepted the customer's Continental Card. Continental
charges a 2.5% fee.
Prepare journal entries to record the above credit card transactions of Levine Company.
Note: Round your answers to the nearest whole dollar amount.
View transaction list
Journal entry worksheet
1
2
3
4
Sold merchandise for $8,400 and accepted the customer's Continental Card.
Continental charges a 2.5% fee.
Note: Enter debits before credits.
General Journal
Debit
Credit
Date
April 12
Cash
Credit card expense
Sales
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