Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $2,100 of merchandise on credit (that had cost $1,300) to Natara Morris, terms n/15. June 5 Sold $23,000 of merchandise (that had cost $13,800) to customers who used their Zisa cards. Zisa charges a 1% fee. June 6 Sold $16,000 of merchandise (that had cost $9,600) to customers who used their Access cards. Access charges a 3 fee. June 8 Sold $14,000 of merchandise (that had cost $2,900) to customers who used their Access cards. Access charges a 2 fee. June 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $1,680 balance in McKee's account was from a credit sale last year. June 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 > Sold $2,100 of merchandise on credit to Natara Morris, terms n/15. Note: Enter debits before credits. Date June 04 General Journal Debit Credit Pray Next
Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $2,100 of merchandise on credit (that had cost $1,300) to Natara Morris, terms n/15. June 5 Sold $23,000 of merchandise (that had cost $13,800) to customers who used their Zisa cards. Zisa charges a 1% fee. June 6 Sold $16,000 of merchandise (that had cost $9,600) to customers who used their Access cards. Access charges a 3 fee. June 8 Sold $14,000 of merchandise (that had cost $2,900) to customers who used their Access cards. Access charges a 2 fee. June 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $1,680 balance in McKee's account was from a credit sale last year. June 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 > Sold $2,100 of merchandise on credit to Natara Morris, terms n/15. Note: Enter debits before credits. Date June 04 General Journal Debit Credit Pray Next
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
jlp.3
![es
Mayfair Company completed the following transactions and uses a perpetual inventory system.
June 4 Sold $2,100 of merchandise on credit (that had cost $1,300) to Natara Morris, terms n/15.
June 5 Sold $23,000 of merchandise (that had cost $13,800) to customers who used their Zisa cards. Zisa charges a 1%
fee.
June 6 Sold $16,000 of merchandise (that had cost $9,600) to customers who used their Access cards. Access charges a 3%
fee.
June 8 Sold $14,000 of merchandise (that had cost $2,900) to customers who used their Access cards. Access charges a 2%
fee.
June 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $1,680 balance in
McKee's account was from a credit sale last year.
June 18 Received Morris's check in full payment for the June 4 purchase.
Required:
Prepare journal entries to record the preceding transactions and events.
View transaction list
Journal entry worksheet
1
2
3
4
5
60
7
8
9
10
Sold $2,100 of merchandise on credit to Natara Morris, terms n/15.
Note: Enter debits before credits.
Date
June 04
General Journal
Debit
Credit
Prev
1 of 1
Next](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3a9da0e6-7c68-4414-ab34-2a6a7f03d4d5%2F997ef839-55bb-4749-9c89-44b1fb05a935%2Fjoaagf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:es
Mayfair Company completed the following transactions and uses a perpetual inventory system.
June 4 Sold $2,100 of merchandise on credit (that had cost $1,300) to Natara Morris, terms n/15.
June 5 Sold $23,000 of merchandise (that had cost $13,800) to customers who used their Zisa cards. Zisa charges a 1%
fee.
June 6 Sold $16,000 of merchandise (that had cost $9,600) to customers who used their Access cards. Access charges a 3%
fee.
June 8 Sold $14,000 of merchandise (that had cost $2,900) to customers who used their Access cards. Access charges a 2%
fee.
June 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $1,680 balance in
McKee's account was from a credit sale last year.
June 18 Received Morris's check in full payment for the June 4 purchase.
Required:
Prepare journal entries to record the preceding transactions and events.
View transaction list
Journal entry worksheet
1
2
3
4
5
60
7
8
9
10
Sold $2,100 of merchandise on credit to Natara Morris, terms n/15.
Note: Enter debits before credits.
Date
June 04
General Journal
Debit
Credit
Prev
1 of 1
Next
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