Presented below are two independent situations. 1. (a) On March 15, 60 customers used debit cards to purchase merchandise for a total of $8,400.00 from Pronghorn. Pronghorn pays a $1.20 debit card fee for each transaction. 2 On June 21, Wildhorse Creations Gallery sells a painting to Debra King for $3,150. Debra uses her Visa bank credit card to pay for the purchase. The bank charges Wildhorse Creations a 4.0% fee for all credit card transactions. On July 17, Debra receives her Visa bill and pays for this purchase. Date Prepare Pronghorn's journal entries for the transactions in part (1). (Credit account titles are automatically indented when the 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. List all debit entries before credit entries.) Account Titles !! Debit Credit
Presented below are two independent situations. 1. (a) On March 15, 60 customers used debit cards to purchase merchandise for a total of $8,400.00 from Pronghorn. Pronghorn pays a $1.20 debit card fee for each transaction. 2 On June 21, Wildhorse Creations Gallery sells a painting to Debra King for $3,150. Debra uses her Visa bank credit card to pay for the purchase. The bank charges Wildhorse Creations a 4.0% fee for all credit card transactions. On July 17, Debra receives her Visa bill and pays for this purchase. Date Prepare Pronghorn's journal entries for the transactions in part (1). (Credit account titles are automatically indented when the 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. List all debit entries before credit entries.) Account Titles !! Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Yu.35.
Transcribed Image Text:Presented below are two independent situations.
1.
2.
(a)
On March 15, 60 customers used debit cards to purchase merchandise for a total of $8,400.00 from Pronghorn.
Pronghorn
pays a $1.20 debit card fee for each transaction.
2
On June 21, Wildhorse Creations Gallery sells a painting to Debra King for $3,150. Debra uses her Visa bank credit card to
pay for the purchase. The bank charges Wildhorse Creations a 4.0% fee for all credit card transactions. On July 17, Debra
receives her Visa bill and pays for this purchase.
Date
Prepare Pronghorn's journal entries for the transactions in part (1). (Credit account titles are automatically indented when
the 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. List all debit
entries before credit entries.)
Account Titles
!!
Debit
Credit
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