On April 16, Temptalia Company made sales of $15,000 to customers using credit cards for payment. The

Question:

On April 16, Temptalia Company made sales of $15,000 to customers using credit cards for payment. The credit card company charges Temptalia a service fee of 2.5% for credit card transactions. Prepare the entry to record the credit card sales.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Accounting Principles Volume 1

ISBN: 9781119786818

9th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

Question Posted: Jul 01, 2023 05:06 AM

See More Questions

The BondsRUs Company needs to estimate the cost of debt in their WACC calculation. The 15-year bond issue would have $1,000 par value, 5% coupon rate, and pay interest semiannually. The bonds would...
On April 16, Triomedia Company made sales of $12,950 to customers using credit cards for payment. The credit card company charges Triomedia a service fee of 2.5% for credit card transactions. Prepare...
On April 16, Triomedia Company made sales of $10,000 to customers using credit cards for payment. The credit card company charges Triomedia a service fee of 2.5% for credit card transactions. Prepare...
Peete's Coffee and Tea purchased equipment on March 1, 2022 for $17,400. It is estimated that the equipment will have a $300 salvage value at the end of its 6 -year useful life. It is also estimated...
You have an interview for an IT position with NewTech, a large telecommunications company, and you want to learn more about the firm and its organizational structure. To prepare for the interview,...
What does the demand for education at your college look like? What is on each axis? Is the demand elastic or inelastic? How could you find out?
Consider the following cash flow profile, and assume MARR is 10 percent/year and the finance rate is 4 percent/year. a. Determine the MIRR for this project. b. Is this project economically...
Dempsey Inc. is a retailer operating in British Columbia. Dempsey uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory...
Netflix estimates that North American demand for its streaming service has an elasticity of approximately -1.5. In 2022, 74 million subscribers generated revenues of just over $14 billion at an...
Frequently we read in the newspaper that one should lease an automobile rather than buying it. For a typical 24-month lease on a car costing $9400, the monthly lease charge is about $267. At the end...
The Agricultural Genetics Companys Cash account in its general ledger reported a balance of $6,782 on May 31, 2024. The companys bank statement from Western Bank reported a balance of $6,405 on the...
The March bank statement showed the following for Yap Co.: Additional information: 1. The bank statement contained three debit memoranda: An NSF cheque of $595 that Yap had deposited was returned...
Evaluate each expression. 5! 5!0!
An object's velocity is described by the equation: v = (3.50t4.00t) m/s. The position of the particle at t = 1.00 s is x(1.00 s) = 12.0 m. a. Find the displacement of the particle between 1.00 and...
The figure shows are 19.4 cm long. A 0 E a rhombus whose sides The angle is 23.4. B C D Find the distance from A to B. Answer in units of
Two spheres A and B of same size are placed in a box as shown. What is the force exerted by B on A when the mass of the sphere, m = 10 kg and radius, r = 100 mm? A What is the downward reaction force...
1. An object is oscillating in SHM with amplitude of 1,5 cm and a period of 0.01 s. (a) Find the values of its velocity and acceleration when its displacement from the equilibrium position is 0.4 cm,...
In the figure, the coefficient of friction between the mass and the plane is 0.2. How much work is done by the force F in moving the mass up the plane a distance of 4m? (sin36.9= 0.6, cos36.9=0.8,...
Consider the following payoff table and probabilities for the states of nature: a. Choose the best alternative using decision making under risk. b. What is the expected value of perfect information?...
An access route is being constructed across a field (Figure Q8). Apart from a relatively firm strip of ground alongside the field's longer side AB, the ground is generally marshy. The route can...
Wolcott Warehouse Store has an August 31 fiscal year end and uses a perpetual inventory system. An alphabetical list of its account balances at August 31, 2017, follows. All accounts have normal...
The unadjusted trial balance of World Enterprises for the year ended December 31, 2017, follows: Additional information: 1. There is $750 of supplies on hand on December 31, 2017. 2. The one-year...
Magna International Inc. is a leading global supplier of technologically advanced automotive components, systems, and modules. Selected financial information (dollars in US millions) follows:...
Describe the components of the U.S. payment system?
Amadeus Corporation had the following information for the year 2018: Accounts Receivable, beginning 3,000,000 Allowance for Doubtful Accounts, beginning 150,000 Sales (80% on credit) 12,000,000 Sales...
What is the function of the Casparian strip? Why is the Casparian strip not found in stems? Explain

On April 16, Temptalia Company made sales of $15,000 to customers using credit cards for payment. The

Question:

Step by Step Answer:

April 16 Cash Credit ...View the full answer

Accounting Principles Volume 1

Students also viewed these Business questions