Question

Chapter 7 Problems i Saved Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 2.5 points 4 Sold $800 of merchandise on credit (that had cost $400) to Natara Morris, terms n/15. 5 Sold $6,600 of merchandise (that had cost $3,300) to customers who used their Zisa cards. Zisa charges a 4.0% fee. 6 Sold $6,014 of merchandise (that had cost $3,007) to cus o used their Access cards. Access charges a 3.0% fee. 8 Sold $4,350 of merchandise (that had cost $2,175) to customers who used their Access cards. Access charges a 3.0% fee. 13 Wrote off the account of Abigail Mckee against the Allowance for Doubtful Accounts. The $499 balance in Mckee's account was from a credit sale last year. 18 Received Morris's check in full payment for the June 4 purchase. Skipped Required: Prepare journal entries to record the preceding transactions and events. (Do not round intermediate calculations.) eBook View transaction list Print Journal entry worksheet 2 3 4 5 6 7 8 9 10 Sold $800 of merchandise on credit to Natara Morris, terms n/15. Note: Enter debits before credits. Date General Journal Debit Credit June 04 Record entry Clear entry View general journal

Answer 1

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-Anse JOURNAL ENTRIES I Credit Dale | 4800 Buoo D $6336 AIC $ 6600 $3300 treneral JOURNAL I Debit Junoy Accounts wereivable - Nimesgies are a $800 1. To Sales Alc | Cost of Goods sold. Al ve $400 To Merchandire Inventory Arc JUN.05 Coen PC coedit Card Expense Alo De 264 To. Sales | Cost of Goods sold All DE $3300 To mesclaudise Inventory Me June of Cash Al DE $5834 credit card expense Al : DE $180 1. To sales All I | Cost of Goods sold Al Dr $3007 TO Merchandise Inventorey Ale Sune.o8 Cash Alc DE $4919 Credit Card Expense All Dr $131 . To sales. All I Cost of Goods sold All Dr $2175 To Merchandise Onventory All June 13 ) Allowance for Dorbtful accounts Ape 2 $499 TO Accounts Receivable - A. Mckee Arc June 18 Cash . Alc . dr. 1800 to accounts receivable - Ni Morais Alcl | $6014 | $3007 $4350 / $2175 $499 $800