Question

Cornerstone Exercise 5-33 (Algorithmic) Accounting for Credit Card Sales Frank's Tattoos and Body Piercing operates near campus. At the end of a recent day, Frank's cash register included credit card documents for the following sales amounts: MasterCard $756 Visa 486 The merchant's charges are 1.8% for MasterCard and 2.1% for Visa, Frank's also had cash sales of $375 and $1,000 of sales on credit to a local business Required: Prepare a journal entry to record these sales. If an amount box does not require an entry, leave it blank. Round intermediate calculations and final answers to two decimal places, if required. Cash 159,318 X Accounts Receivable 100,000 Service Charge Expense sev 23.82 Sales Revenue C 2,017 Record sales Feedback Check My Work Bank credit cards, like Visa and MasterCard, pay the merchant the amount of each sale less a service charge on the date of purchase

Answer 1

FCDDF000 (Autosaved) (Autosaved) (Autosaved) - Microsoft Excel - O X Home Insert Page Layout Formulas Data Review View Comic Sans MS - 11 - AA General - Autosum Fill - 8 ...! A7 A Z * Cut La Copy Paste Format Painter Clipboard D7 = = = * 3-Wrap Text Merge & Center - Alignment General 9. % , Number Insert Delete Format Conditional Format Cell Formatting as Table Styles Styles 2 Clear Sort & Find & Filter - Select Editing Font Cells f A B C D E F G H I 3 Journal Entry $1,375.00 $ 1,218.18 $ 23.82 Credit Sales Charges(%) Charges amount Net Sale Amount 756 1.80% 13.61 742.39 486 2.10% 10.21 475.79 $ 2,617.00 5 Cash 6 Accounts Receivable 7 Service charge expenses 8 Sales Revenue 9 10 (To Record Sales) 11 12 13 14 15 16 Re Ready S heet239 Sheet240. Sheet242 Sheet244 Sheet245 Sheet246 Sheet248 Sheet250 | Sheet251 Februar + 1 Type here to search DO 140% 0 ^ de la 1* ENG 20-03-2020