Urban Star Sporting Goods must charge 8 percent sales tax on all sales. DATE TRANSACTIONS 20x1 Feb. 2 Sold merchandise totaling $4,800 plus tax to customers using bank credit cards. Record the 2 percent discount on credit card sales at time of sale. 15 Sold merchandise totaling $2,650 to customers using American Express. 20 Received amount due from American Express, less their 3 percent discount, for sales made by customers using American Express on February 15. Required: Record the above transactions of Urban Star Sporting Goods in a general journal. (Round your intermediate calculations and final answers to 2 decimal places.)

Urban Star Sporting Goods must charge 8 percent sales tax on all sales. DATE TRANSACTIONS 20x1 Feb. 2 Sold merchandise totaling $4,800 plus tax to customers using bank credit cards. Record the 2 percent discount on credit card sales at time of sale. 15 Sold merchandise totaling $2,650 to customers using American Express. 20 Received amount due from American Express, less their 3 percent discount, for sales made by customers using American Express on February 15. Required: Record the above transactions of Urban Star Sporting Goods in a general journal. (Round your intermediate calculations and final answers to 2 decimal places.)

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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