Sales-related transactions, including the use of credit cards
Journalize the entries for the following  transactions:
a.    Sold merchandise for cash, $30,000. The cost of the merchandise sold was $18,000.
b.   Sold merchandise on account, $258,000. The cost of the merchandise sold was $154,800.
c.    Sold merchandise to customers who used MasterCard and VISA, $160,000. The cost of the merchandise sold was $96,000.
d.   Sold merchandise to customers who used American Express, $72,000. The cost of the merchandise sold was $43,200.
e.    Received an invoice from National Clearing House Credit Co. for $8,800, representing a service fee paid for processing MasterCard, VISA, and American Express sales.
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Posted 20 Aug 2017 06:08 PM
My Price 9.00
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