Requirement $1.$ Journalize the sales on$$ account, the credit card$$ sales, and the cash payments on account received during the month. $($Use the gross method to record the sales transactions. Record debits$$ first, then credits. Exclude explanations from any journal$$ entries.$)$

$$First$,$ record the sales on account.

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At Mystery Arts, gross sales for the month included: Sales on account (3/10, n/30) $130,000 Credit card sales (3% credit card fee) $180,000 Half of the sales on account were paid within the discount period; the other accounts were paid in full by the end of the month. At Mystery Arts, gross sales for the month included: Sales on account (3/10, n/30) $130,000 Credit card sales (3% credit card fee) $180,000 Half of the sales on account were paid within the discount period; the other accounts were paid in full by the end of the month.

Answer rating: 100% (QA)

Journal Entries 1 Record the Sales on Account Accounts Receivable 1300... View the full answer