Journalize the entries for the following transactions: a. Sold merchandise for cash, $30,000. The cost of the
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Journalize the entries for the following transactions:
a. Sold merchandise for cash, $30,000. The cost of the merchandise sold was $18,000.
b. Sold merchandise on account, $258,000. The cost of the merchandise sold was $154,800.
c. Sold merchandise to customers who used MasterCard and VISA, $160,000. The cost of the merchandise sold was $96,000.
d. Sold merchandise to customers who used American Express, $72,000. The cost of the merchandise sold was $43,200.
e. Received an invoice from National Clearing House Credit Co. for $8,800, representing a service fee paid for processing MasterCard, VISA, and American Express sales?
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Related Book For
Financial Accounting
ISBN: 978-1305088436
14th edition
Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac
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