Question

ar Using the perpetual inventory system, journalize the entries for the following selected transactions: a. Sold merchandise on account for $12,000, terms 1/30. The cost of the goods sold was $6,500. b. Sold merchandise to customers who used MasterCard and VISA, $9,500. The cost of the goods sold was $5,300. C. Sold merchandise to customers who used American Express, $2,900. The cost of the goods sold was $1,700. d. Paid an invoice from First National Bank for $385, representing a service fee for processing MasterCard and VISA sales. e. Paid an invoice from American Express for $75 fee. If an amount box does not require an entry, leave it blank. 1 l III 1 1 1 Check My Work 1 more Check My Work uses remaining. All work saved. Email Instruct

Answer 1

Credit(s) solutions Journal Entries Event General Journal (a) Accounts Receivable sales (to record sold merchandise on account) Debit (3) $12,000 $12,000 $ 6,500 $6,500 cost of Merchandise sold . Merchandise Inventory to record cost of good sobo). $9,500 (b) $9,500 Gash sales (to record sold merchandise to customer who used mastercard and VISA)

پل ادی) داد؟ علت $5,300 $ 5,300 (6) $2,900 $2,900 - Merchandise Inventory (to record cost of good 5010) Accounts Receivable . sciles (to record sold merchandise to customer who use American express) cost of Merchandise sold Merchandise Inventory 2 to record cost of goods sold) Credit Card Expense cash (to record paid an invoice from first neitional bank). $1,500 $1,700 Ou .

ta (e) . $75 Eredit Card Expense. Cash (to second paid an invoice from American express)

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