Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 19 Jan 2018 My Price 3.00

credit card sales

Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system). 1. Sold $26,000 of merchandise, that cost $19,800, on MasterCard credit cards. The net cash receipts from sales are immediately deposited in the seller’s bank account. MasterCard charges a 5% fee. 2. Sold $5,600 of merchandise, that cost $3,300, on an assortment of credit cards. Net cash receipts are received 5 days later, and a 4% fee is charged.

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Jan 2018 09:01 PM My Price 3.00

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