The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to Rami, who charged the $1,900 purchase on his Visa credit card. Visa charges Evergreen a 2 percent. credit card fee. 15 Sold merchandise to Steven at an invoice price of $6,900; terms 2/10, n/30. 20 Sold merchandise to Tania at an invoice price of $2,900; terms 2/10, n/45. 23 Collected payment from Steven from July 15 sale. Aug. 25 Collected payment from Tania from July 20 sale. Required: 1. Prepare the journal entries to record the five transactions. Ignore the cost of sales. (If no entry is required for a transaction/ever select "No journal entry required" in the first account field.)
The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to Rami, who charged the $1,900 purchase on his Visa credit card. Visa charges Evergreen a 2 percent. credit card fee. 15 Sold merchandise to Steven at an invoice price of $6,900; terms 2/10, n/30. 20 Sold merchandise to Tania at an invoice price of $2,900; terms 2/10, n/45. 23 Collected payment from Steven from July 15 sale. Aug. 25 Collected payment from Tania from July 20 sale. Required: 1. Prepare the journal entries to record the five transactions. Ignore the cost of sales. (If no entry is required for a transaction/ever select "No journal entry required" in the first account field.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please both subparts answer please
Transcribed Image Text:2. Compute net sales for the two months ended August 31.
Transcribed Image Text:The following transactions were selected from the records of Evergreen Company:
July 12 Sold merchandise to Rami, who charged the $1,900 purchase on his Visa credit card. Visa charges Evergreen a 2 percent
credit card fee.
15 Sold merchandise to Steven at an invoice price of $6,900; terms 2/10, n/30.
20 Sold merchandise to Tania at an invoice price of $2,900; terms 2/10, n/45.
23 Collected payment from Steven from July 15 sale.
Aug. 25 Collected payment from Tania from July 20 sale.
Required:
1. Prepare the journal entries to record the five transactions. Ignore the cost of sales. (If no entry is required for a transaction/event,
select "No journal entry required" in the first account field.)
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