Homework Answers
| DATE | ACCOUNTS AND EXPLANATIONS | DEBIT | CREDIT |
| Net Method | |||
| Jan 28 ,2018 | Cash | $ 9,021.00 | |
| Credit card Discount Expense (9300 x 3%) | $ 279.00 | ||
| Sales Revenue | $ 9,300.00 | ||
| Jan 28 ,2018 | Cash | $ 8,730.00 | |
| Credit card Discount Expense (9000 x 3%) | $ 270.00 | ||
| Sales Revenue | $ 9,000.00 |
As No information is given for feb15 2018
| Assuming Feb 15 ,2018 transaction based on gross method | |||
| Gross Method: The total sale is deposited and the fee is deducted at the end of the month | |||
| Feb 15,2018 | Cash | $ 9,300.00 | |
| Sales Revenue | $ 9,300.00 | ||
| Feb 15,2018 | Cash | $ 9,000.00 | |
| Sales Revenue | $ 9,000.00 | ||
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U. JUUW HUW Wiiuy Mountain Flagpoles will report net accounts receivable on its December 31, 2015...
8. Suppose Chocolate Passion's processor charges a 3% fee and deposits on February 15, 2015. Journalize...
8. Suppose Chocolate Passion's processor charges a 3% fee and deposits on February 15, 2015. Journalize these sale transactions for the restaurant appropriate t-accounts 6. Show how Windy Mountain Flagpoles will report net accounts receivable on its December 31, 2015 balance sheet Restaurants do a large volume of business by credit and debit cards. Suppose Chocolate Passion restaurant had these transactions on January 28,2015: National Express credit card sales ValueCard debit card sales $9,300 $9,000 7. Suppose Chocolate Passion's processor...
Restaurants do a large volume of business by credit and debit cards. Suppose Chocolate Passion restaurant...
Restaurants do a large volume of business by credit and debit cards. Suppose Chocolate Passion restaurant had these transactions on January 28, 2018: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Suppose Chocolate Passion's processor charges a 3% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the credit sales net of...
Restaurants do a large volume of business by credit and debit cards, Suppose Sand Island restaurant...
Restaurants do a large volume of business by credit and debit cards, Suppose Sand Island restaurant had these transactions on January 28, 2016 National Express credit card sales $ 11,000 ValueCard debit card sales 9,000 Requirements 1. Suppose Sand Island's processor charges a 6% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant 2. Suppose Sand Island's processor charges a 6% fee and deposits sales using the gross method. Journalize these sales transactions for...
Restaurants do a large volume of business by credit and debit cards. Suppose Parisian Cuisine restaurant...
Restaurants do a large volume of business by credit and debit cards. Suppose Parisian Cuisine restaurant had these transactions on January 28, 2016 National Express credit card sales $ 9,700 ValueCard debit card sales 7.000 Requirements 1. Suppose Parisian Cuisine's processor charges a 3% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant 2. Suppose Parisian Cuisine's processor charges a 3% fee and deposits sales using the gross method. Journalize these sales transactions for...
Requirement 1. Suppose Winter Retreats' processor charges a 3% fee and deposits sales net of the...
Requirement 1. Suppose Winter Retreats' processor charges a 3% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the credit sales net of the fee, first. Accounts and Explanation Debit Credit Data Table National Express credit card sales ValueCard debit card sales S 10,200 9,000 Now journalize the debit card sales net of the fee Print...
At January 1, 2015, Windy Mountain Flagpoles had Accounts receivable of $34.000 and Allowance for Bad...
At January 1, 2015, Windy Mountain Flagpoles had Accounts receivable of $34.000 and Allowance for Bad Debts had a credit balance of $3,000. During the year, Windy Mountain Flagpoles recorded the following: a. Sales of $ 189,000 ($165,000 on account: $ 24,000 for cash) b. Collections on account, $ 133,000 c. Write-offs of uncollectible receivables, $ 2,800. 1. Journalize Windy's transactions that occurred during 2015. The company uses the allowance method. 2. Post Windy's transactions to the Accounts Receivable and...
At January 1, 2018, Purple Mountain Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad...
At January 1, 2018, Purple Mountain Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Purple Mountain Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Purple's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $182,000 ($158,000 on...
At January 1, 2018. Windy Mountain Flagpoles had Accounts Receivable of $31.000, and Allowance for Bad...
At January 1, 2018. Windy Mountain Flagpoles had Accounts Receivable of $31.000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Windy Mountain Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize Windy's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a) Sales of $186,000 ($164,000 on...
At January 1, 2018, Winding Mountain Flagpoles had Accounts Receivable of $34,000, and Allowance for Bad...
At January 1, 2018, Winding Mountain Flagpoles had Accounts Receivable of $34,000, and Allowance for Bad Debts had a credit balance of $4,000. During the year, Winding Mountain Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize Winding's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $186,000 ($164,000 on...
At January 1, 2018, Hilly Mountain Flagpoles had Accounts Receivable of $34,000, and Allowance for Bad Debts had a cred...
At January 1, 2018, Hilly Mountain Flagpoles had Accounts Receivable of $34,000, and Allowance for Bad Debts had a credit balance of $4,000. During the year, Hilly Mountain Flagpoles recorded the following: i (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Hilly's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $182,000 ($163,000...
8. Suppose Chocolate Passion's processor charges a 3% fee and deposits on February 15, 2015. Journalize these sale transactions for the restaurant appropriate t-accounts 6. Show how Windy Mountain Flagpoles will report net accounts receivable on its December 31, 2015 balance sheet Restaurants do a large volume of business by credit and debit cards. Suppose Chocolate Passion restaurant had these transactions on January 28,2015: National Express credit card sales ValueCard debit card sales $9,300 $9,000 7. Suppose Chocolate Passion's processor...
Restaurants do a large volume of business by credit and debit cards. Suppose Chocolate Passion restaurant had these transactions on January 28, 2018: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Suppose Chocolate Passion's processor charges a 3% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the credit sales net of...
Restaurants do a large volume of business by credit and debit cards, Suppose Sand Island restaurant had these transactions on January 28, 2016 National Express credit card sales $ 11,000 ValueCard debit card sales 9,000 Requirements 1. Suppose Sand Island's processor charges a 6% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant 2. Suppose Sand Island's processor charges a 6% fee and deposits sales using the gross method. Journalize these sales transactions for...
Restaurants do a large volume of business by credit and debit cards. Suppose Parisian Cuisine restaurant had these transactions on January 28, 2016 National Express credit card sales $ 9,700 ValueCard debit card sales 7.000 Requirements 1. Suppose Parisian Cuisine's processor charges a 3% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant 2. Suppose Parisian Cuisine's processor charges a 3% fee and deposits sales using the gross method. Journalize these sales transactions for...
Requirement 1. Suppose Winter Retreats' processor charges a 3% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the credit sales net of the fee, first. Accounts and Explanation Debit Credit Data Table National Express credit card sales ValueCard debit card sales S 10,200 9,000 Now journalize the debit card sales net of the fee Print...
At January 1, 2015, Windy Mountain Flagpoles had Accounts receivable of $34.000 and Allowance for Bad Debts had a credit balance of $3,000. During the year, Windy Mountain Flagpoles recorded the following: a. Sales of $ 189,000 ($165,000 on account: $ 24,000 for cash) b. Collections on account, $ 133,000 c. Write-offs of uncollectible receivables, $ 2,800. 1. Journalize Windy's transactions that occurred during 2015. The company uses the allowance method. 2. Post Windy's transactions to the Accounts Receivable and...
At January 1, 2018, Purple Mountain Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Purple Mountain Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Purple's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $182,000 ($158,000 on...
At January 1, 2018. Windy Mountain Flagpoles had Accounts Receivable of $31.000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Windy Mountain Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize Windy's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a) Sales of $186,000 ($164,000 on...
At January 1, 2018, Winding Mountain Flagpoles had Accounts Receivable of $34,000, and Allowance for Bad Debts had a credit balance of $4,000. During the year, Winding Mountain Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize Winding's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $186,000 ($164,000 on...
At January 1, 2018, Hilly Mountain Flagpoles had Accounts Receivable of $34,000, and Allowance for Bad Debts had a credit balance of $4,000. During the year, Hilly Mountain Flagpoles recorded the following: i (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Hilly's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $182,000 ($163,000...
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