repare Journal entries for the following credit card sales transactions (the company uses the perpetual Inventory system 1. Sold $32,000 of merchandise, which cost $24,600, on Mastercard credit cards. Mastercard charges a 5% fee. 2. Sold $6,200 of merchandise, which cost $3,600, on an assortment of bank credit cards. These cards charge a 4% fee View transaction list Journal entry worksheet < 1 2 3 4 Mastercard credit cards Mastercard charges a A

repare Journal entries for the following credit card sales transactions (the company uses the perpetual Inventory system 1. Sold $32,000 of merchandise, which cost $24,600, on Mastercard credit cards. Mastercard charges a 5% fee. 2. Sold $6,200 of merchandise, which cost $3,600, on an assortment of bank credit cards. These cards charge a 4% fee View transaction list Journal entry worksheet < 1 2 3 4 Mastercard credit cards Mastercard charges a A

Name: Complete journal entries 1-4 and show steps to solve please and thank
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Description: Complete journal entries 1-4 and show steps to solve please and thank you QS 7-1 (Algo) Credit card sales LO C1Prepare Journal entries for the following credit card sales transactions (the company uses the perpetual Inventory system).1. Sold $32,000

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...

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Help Save & Exit Submit TB MC Qu. 07-149 (Algo) MacKenzie Company sold... MacKenzie Company sold $460 of merchandise to a customer who used a Regional Bank credit card. Regional Bank charges a 6.0% fee for sales on its credit cards. The journal entry to record this sales transaction would be: Multiple Choice es Debit Cash of $460 and credit Sales $460. Debit Cash of $460 and credit Accounts Receivable-Regional $460. Debit Accounts Receivable-Regional $432.40; debit Credit Card Expense $27.60 and credit Sales $460. Debit Cash $432.40: debit Credit Card Expense $27,60 and credit Sales $460. MAR 15 étv MacBook Air 888 DII DD F2 F3 F4 F5 F6 F7 F8 F9 #3 2$ * & 3 4 6 7 8 W E R T
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Exercise 9-2 Accounting for credit card sales LO C1 Levine Company uses the perpetual inventory system. Apr. 8 Sold merchandise for $4,700 (that had cost $3,473) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. 12 Sold merchandise for $6, ee0 (that had cost $3,888) 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. (Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 3 4 > Sold merchandise for $4,700 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before credits. Date General Journal Debit Credit Apr 08 Record entry Clear entry View general joumal Journal entry worksheet Record the cost of goods sold, $3,473. Note: Enter debits before credits. Date General Journal Debit Credit Apr 08 Record entry Clear entry View general journal
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MarchMarch 4: Sold $ 1 comma 500$1,500 of merchandise to YancyYancy Corp., who paid by credit card. The credit card company charges ParkerParker a fee of 22% on credit card sales. Do not record the cost of goods sold entry yet. We will do that in the next step.Journal EntryDate Accounts Debit CreditMar 4
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