Journal entries | |||||
Date | Particulars | Debit | Credit | ||
02-Feb | cash | 2161.08 | |||
credit card expenses (2484*13%) | 322.92 | ||||
sale | 2300 | ||||
sale tax payable (2300*8%) | 184 | ||||
15-Feb | accounts receivable | 3240 | |||
sales | 3000 | ||||
sale tax payable | 240 | ||||
(to record sale using american express) | |||||
20-Feb | Cash | 2786.4 | |||
credit card expenses (3240*14%) | 453.6 | ||||
accounts receivable | 3240 | ||||
(to record collection from credit card sale) |
operates with 26 Record the following transactions of Lisa's Fashion Boutique na general journal Lisa's Fashion...
Record the following transactions of Lisa’s Fashion Boutique in a general journal. Lisa's Fashion Boutique operates in a state with 8% sales tax. (Round your intermediate calculations and final answers to 2 decimal places): DATE TRANSACTIONS 2019 Feb. 2 Sold merchandise for cash totaling $3,300 to customers using bank credit cards. Record the 8 percent discount on credit card sales at time of sale. 15 Sold merchandise totaling $3,700 to customers using American Express. 20 Received amount due from American...
Record the following transactions of Lisa’s Fashion Boutique in a general journal. Lisa's Fashion Boutique operates in a state with 8% sales tax. (Round your intermediate calculations and final answers to 2 decimal places): DATE TRANSACTIONS 2019 Feb. 2 Sold merchandise for cash totaling $3,800 to customers using bank credit cards. Record the 2 percent discount on credit card sales at time of sale. 15 Sold merchandise totaling $2,100 to customers using American Express. 20 Received amount due from American...
Record the following transactions of Fashion Park in a general journal Fashion Park must charge 8 percent sales tax on all sales TRANSACTIONS 2019 April Sold merchandise for cash. $1,150 plus sales tax. 3 The customer purchasing merchandise for cash on April 2 returned sine of the serchandises provided a cash return to the customer Sold merchandise credit to Jordan Cla u d Sales Slip for plus tax, ter accepted return of damaged merchandise from Jordan Clarks Credit Memorandum 3e2...
Record the following transactions of Fashion Park in a general journal. Fashion Park must charge 8 percent sales tax on all sales. hts DATE TRANSACTIONS 2019 April 2 Sold merchandise for cash, $1,650 plus sales tax. 3 The customer purchasing merchandise for cash on April 2 returned $150 of the merchandise; provided a cash refund to the customer. 4 Sold merchandise on credit to Jordan Clark; issued Sales Slip 908 for $1,200 plus tax, terms n/30. 6 Accepted return of...
Need help please asap. Royal Gift Shop sells cards, supplies, and various holiday greeting cards. Sales to retail customers are subject to an 8 percent sales tax. The firm sells its merchandise for cash; to customers using bank credit cards, such as MasterCard and Visa; and to customers using American Express. The bank credit cards charge a 1 percent fee. American Express charges a 2 percent fee. Royal Gift Shop also grants trade discounts to certain wholesale customers who place...
Record the following transactions of Fashion Park in a general journal. Fashion Park must charge 8 percent sales tax on all sales. TRANSACTIONS DATE 2019 April 2 Sold merchandise for cash, $1,300 plus sales tax. 3 The customer purchasing merchandise for cash on April 2 returned $100 of the merchandise; provided a cash refund to the customer. 4 Sold merchandise on credit to Jordan Clark; issued Sales slip 908 for $850 plus tax, terms n/30. 6 Accepted return of damaged...
Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places.) DATE TRANSACTIONS 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $6,000, trade discounts of 30% and 15%; terms 3/10, n/30. Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 3 percent discount, Check 185 17 View transaction list Journal entry worksheet 2 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $6,000,...
Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places TRANSACTIONS DATE 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1991, list price $3,908, trade discounts of 20% and 10%; terms 2/10, n/30. 17 Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 2 percent discount, Check 185. View transaction list Journal entry worksheet Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $3,900, trade...
Give the generaljournal entry to record each of the following transactions for Davidson Company: 1. Issued a 6-month, 10 percent note for $74,000 to purchase two forklifts on May 14, 2019 (debit Warehouse Equipment). 2. Discounted its own 180-day, noninterest-bearing note with a principal amount of $28,000 at the Nelson Bank and Trust on May 28, 2019. The bank charged a discount rate of 8 percent. 3. Paid the May 14 note on its due date. 4. Paid the note...
Prepare Journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual Inventory system and the gross method. Apr. 1 sold merchandise for $7,000, with credit termen/30; invoice dated April 1. The cost of the merchandise is $4,200. Apr. 4 The customer in the April 1 sale returned $780 of merchandise for full credit. The merchandise, which had cont $468, is returned to inventory. Apr. 8 Sold merchandise for $3,000, with credit...