Question: Need help with the 4 journal entries on this problem. I always give a thumbs up. Thank you! Exercise 7-2 Accounting for credit card sales



Exercise 7-2 Accounting for credit card sales LO C1 Levine Company uses the perpetual inventory system. Apr. 8 Sold merchandise for $6,100 (that had cost $4,508) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. 12 Sold merchandise for $8,600 (that had cost $5,573) and accepted the customer's Continental Card. Continental charges a 2.5% fee. Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 Sold merchandise for 56,100 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Nota: Enter debits before credits Debit Credit Date Apr 08 General Journal Cash Credit Card expense Journal entry worksheet Record the cost of goods sold, $4,508. Note: Enter debits before credits. Date Debit Credit Apr 08 General Journal Cost of goods sold Merchandise inventory Record entry Clear entry View general journal Journal entry worksheet 2 3 Sold merchandise for $8,600 and accepted the customer's Continental Card. Continental charges a 2.5% fee. Note: Enter debits before credits, Date General Journal Debit Credit Apr 12 Cash (Credit card expense Sales Record entry Clear entry View general journal Journal entry worksheet 2 3 4 > Record the cost of goods sold, $5,573. Note: Enter debits before credits. Date General Journal Debit Credit Apr 12 Cost of goods sold Merchandise inventory Record entry Clear entry View general journal
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