Consider the following transaction: On February 15, Darling Dolls sells 110 dolls with a sales price of
Question:
Consider the following transaction: On February 15, Darling Dolls sells 110 dolls with a sales price of $15 per doll to Rosemary Cummings The cost to Darling Dolls is $5 per doll. Prepare a journal entry under each of the following conditions. Assume Gentry charges a 3.5% fee for each sales transaction using its card.
A. Payment is made using a credit, in-house account.
B. Payment is made using a Gentry credit card.
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A The journal entry is as follows i Debit Miscellaneous Income 150000 ...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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