Journalize the entries for the following transactions. Refer to the Chart of Accounts for exact wording of account titles. Mar. 1 Sold merchandise for cash, $34,200. The cost of the merchandise sold was $23,940. 10 Sold merchandise on account, $255,400. The cost of the merchandise sold was $178,780. 12 Sold merchandise to customers who used MasterCard and VISA, $168,200. The cost of the merchandise sold was $117,740. 17 Sold merchandise to customers who used American Express, $70,500. The cost of the merchandise sold was $49,350. 31 Received and paid an invoice from National Clearing House Credit Co. for $8,930, represent ing a service fee paid for processing MasterCard, VISA, and American Express sales.

Answer rating: 100% (QA)

Journal Entries for March Transactions Date Account Titles Debit Credit Mar01 Cash 34200 S... View the full answer