Question: Journal DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18


Journal DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Joumalize the entries for the following transactions. Refer to the Chart of Accounts for exact wording of accounts (Note the company uses a cleaninghouse to take care of al benk as well as non-bank credit cards used by te customers) Mar 1 Sold merchandise for cash, $31.600. The cost of the merchandise sold was $12.640 10 Sold merchandise on account, $259,000. The cost of the merchandise sold was $103.600 12 Sold merchandise to customers who used MasterCard and VISA 5153.000 The cost of the merchandise sold was 561 200 17 Sold merchandise to customers who used American Express, 573,800. The cost of the merchandise sold was $29.620 31 Pald 50.000, no National Clearing House Credit Co. for service fees for processing MasterCard, VISA. and American Express sales
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
