Business, 27.03.2020 00:28 sil91

Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions: a. Sold merchandise for cash, $116,300. The cost of the merchandise sold was $72,000. (Record the sale first.) b. Sold merchandise on account, $755,000. The cost of the merchandise sold was $400,000. (Record the sale first.) c. Sold merchandise to customers who used MasterCard and VISA, $1,950,000. The cost of the merchandise sold was $1,250,000. (Record the sale first.) d. Sold merchandise to customers who used American Express, $330,000. The cost of the merchandise sold was $230,000. (Record the sale first.) e. Paid $81,500 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA, and American Express sales. Check My Work

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Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the followi...

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