Take me to the text JP and Michelle run a dry cleaners together, called Newtex Dry Cleaners. Their customers can pay by cash, debit or credit card. For each debit transaction, they pay $0.25. For credit cards, they pay 30% of the total of credit card transactions. On January 5, 2019, Michelle compiled the following summary for the work day. Transaction Type Total Number of Transactions $720 $4300 $2300 Cash Debit Card Credit Card 30 122 67 Required Do not enter dabar sions.ar.cammas in the loubo Bound at answers.to.2 decimal places. a) Calculate the total debicredit card expense for January 6. Total Debit/Credit Card Expense b) Record the journal entry for the day's sales ignoring cost of goods sold Eartransactions with more than one debit enter the debit accounts in alphabetical order. Date Account Title and Explanation Debit Credit 2019 Jan .

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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JP and Michelle run a dry cleaners together, called Newtex Dry Cleaners. Their customers can pay by cash, debit or credit card. For each debit transaction, they pay $0.25. For credit cards, they pay 30% of the total of credit card transactions.
On January 5, 2019, Michelle compiled the following summary for the work day.
Transaction Type Total Number of Transactions
$720
$4300
$2300
Cash
Debit Card
Credit Card
Required
Do not enter dalar signs or commas in the loout bons.
Bound all answers to 2 decimal places.
30
122
67
a) Calculate the total debit/credit card expense for January 5
Total Debit/Credit Card Expense
b) Record the journal entry for the day's sales ignoring cost of goods sold.
For transactions with more than one debit enter the debit accounts in alphabetical order.
Debit
Credit
Date Account Title and Explanation
2019
Jan 5
To record day's sales
.
:
+
Transcribed Image Text:Take me to the text JP and Michelle run a dry cleaners together, called Newtex Dry Cleaners. Their customers can pay by cash, debit or credit card. For each debit transaction, they pay $0.25. For credit cards, they pay 30% of the total of credit card transactions. On January 5, 2019, Michelle compiled the following summary for the work day. Transaction Type Total Number of Transactions $720 $4300 $2300 Cash Debit Card Credit Card Required Do not enter dalar signs or commas in the loout bons. Bound all answers to 2 decimal places. 30 122 67 a) Calculate the total debit/credit card expense for January 5 Total Debit/Credit Card Expense b) Record the journal entry for the day's sales ignoring cost of goods sold. For transactions with more than one debit enter the debit accounts in alphabetical order. Debit Credit Date Account Title and Explanation 2019 Jan 5 To record day's sales . : +
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