Slick Running Shoes reports the following: View the transaction information. Journalize all entries required for Slick Running Shoes. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Credit Card Expense Sales Revenue Recorded credit card sales, net of fee. 2,300 115,000 Mar. 15, 2024: Recorded GoldCard credit card sales of $84,000. Processor charges a 1.5% fee. GoldCard charges the fee at the end of the month, therefore Slick uses the gross method for these credit card sales. Ignore Cost of Goods Sold. Date Accounts and Explanation Mar. 15 Accounts Receivable Sales Revenue Recorded credit card sales. Debit Credit 84,000 84,000

Slick Running Shoes reports the following: View the transaction information. Journalize all entries required for Slick Running Shoes. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Credit Card Expense Sales Revenue Recorded credit card sales, net of fee. 2,300 115,000 Mar. 15, 2024: Recorded GoldCard credit card sales of $84,000. Processor charges a 1.5% fee. GoldCard charges the fee at the end of the month, therefore Slick uses the gross method for these credit card sales. Ignore Cost of Goods Sold. Date Accounts and Explanation Mar. 15 Accounts Receivable Sales Revenue Recorded credit card sales. Debit Credit 84,000 84,000

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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