Prepare journal entries for the following transactions of Dulce Delights. Apr. 10 Apr. 13 Apr. 20 Apr.
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Prepare journal entries for the following transactions of Dulce Delights.
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Apr. 10 Apr. 13 Apr. 20 Apr. 25 Sold 320 ice cream buckets with a sales price of $12 per bucket to customer Livia Diaz. Livia paid using her in-house credit account; terms 2/10, n/30. The cost for this sale to Dulce Delights is $4.50 per bucket. Sold 290 ice cream buckets with a sales price of $12.50 per bucket to customer Selene Arnold. Selene paid using her Max credit card. The cost for this sale to Dulce Delights is $4.50 per bucket. Max Credit Card Company charges Dulce Delights a 5% usage fee based on the total sale per transaction. Livia Diaz paid her account in full with a cash payment, less any discounts. Max Credit Card Company made a cash payment in full to Dulce Delights for the transaction from April 13, less any usage fees.
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Apr 10 Debit Accounts Receivable Livia Diaz 3840 Debit Cost of Goods Sold 1440 Credit Rev...View the full answer
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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