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Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $8,600 (that had cost $6,355) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4 fee. April 12 Sold merchandise for $7,600 (that had cost $4,925) 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 Date April 08 Sold merchandise for $8,600 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before credits. 4 General Journal Debit Credit

Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $8,600 (that had cost $6,355) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4 fee. April 12 Sold merchandise for $7,600 (that had cost $4,925) 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 Date April 08 Sold merchandise for $8,600 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before credits. 4 General Journal Debit Credit

FINANCIAL ACCOUNTING
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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Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $8,600 (that had cost $6,355) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4 fee. April 12 Sold merchandise for $7,600 (that had cost $4,925) 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 Date April 08 Sold merchandise for $8,600 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before credits. 4 General Journal Debit Credit
Transcribed Image Text:Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $8,600 (that had cost $6,355) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4 fee. April 12 Sold merchandise for $7,600 (that had cost $4,925) 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 Date April 08 Sold merchandise for $8,600 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before credits. 4 General Journal Debit Credit
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