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Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 3% charge...
Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 3% charg...
Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 3% charge on sales for using its card. On June 28, Jervis had $3,500 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? Multiple Choice Debit Cash $3,500; credit Sales $3,500 Debit Accounts Receivable $3,500; credit Sales $3,500 O Debit Cash $3,605; credit Credit Card Expense $105; credit Sales $3,500 O Debit Cash $3,395; debit...
m4 Chapters 7-8 X Metp://newcornectunhedacation.com cam 4 Chapters 78 /comedel Help Seve Exit Brinker accepts all...
m4 Chapters 7-8 X Metp://newcornectunhedacation.com cam 4 Chapters 78 /comedel Help Seve Exit Brinker accepts all major bank credit cards, including Fast Savings Bank's which assesses a 45% charge on sales for using is card On May 26. Brinker had $5000 in First Savings Bank Card credit sales. Whatentry should r emake on May 26 to record the depos Multiple Choice O Debit Cash 54775, debit Credit Card Expense $225. credit les 55.000 O Debit Accounts Receivable $5.000, credit Sales...
Mackenzie Company sold $580 of merchandise to a customer who used a Regional Bank credit card....
Mackenzie Company sold $580 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 4.0% service charge for sales on its credit cards. Mackenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately The journal entry to record this sale transaction would be: Multiple Choice O Debit Cash of $580 and credit Accounts Receivable-Regional $580. ) Debit Cash of $580 and credit Sales $580. ooooo Debit Accounts...
Exerclse 7-2 Accounting for credit card sales LO C1 Levine Company uses the perpetual inventory s...
It said april 12 Accounts recievable- continental was wrong.
Exerclse 7-2 Accounting for credit card sales LO C1 Levine Company uses the perpetual inventory system and allows customers to use two credit cards in charging purchases. With the Suntrust Bank Card, a 4% service charge for credit card sales is assessed. The second credit card that Levine accepts is the Continental Card. Continental assesses a 2.5% charge on sales for using its card. Apr. 8 Sold merchandise for $8,48 (that...
A Stello's Berry Farm accepted a bank-issued credit card in payment of a $1,300 sales transaction....
A Stello's Berry Farm accepted a bank-issued credit card in payment of a $1,300 sales transaction. Stelloh's bank charges 3% to process the transaction. The Journal entry to record the sales transaction will include (Ignore cost of goods sold) O A. a debit to Cash for $1,300 and a credit to Sales Revenue for $1,300 OB. a debit to Accounts Recevable for $1,261 and a credit to Sales Revenue for $1,261 O C. a debit to Accounts Receivable for $1,300,...
Schofield Retailers accepted $40000 of Silver Bank MasterCard credit card charges for merchandise sold on August...
Schofield Retailers accepted $40000 of Silver Bank MasterCard
credit card charges for merchandise sold on August 1. Silver Bank
charges 4% for its credit card use. The entry to record this
transaction by Schofield Retailers will include a credit to Sales
Revenue of $40000 and a debit(s) to
Accounts Receivable for $40000.
Accounts receivable for $38400 and Service Charge Expense for
$2400.
Cash for $38400 and Service Charge Expense for $1600.
Cash for $40000.
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...
Need help please asap. Royal Gift Shop sells cards, supplies, and various holiday greeting cards. Sales...
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...
Gemstone P used by Gem and all cred stone Products allows customers to use bank credit...
Gemstone P used by Gem and all cred stone Products allows customers to use bank credit cards to charge purchases. The bank by Gemstone Products processes all bank credit cards in exchange for a 3% processing fee all credit card receipts deposited are credited to the company account on the day of deposit. ssume that on January 18, Gemstone Products sold and deposited $18,000 worth of bank credit card receipts. Prepare the general journal entry to record this transaction. 9)...
100 Cash at bank 110 Accounts receivable 120 Inventory 130 Prepaid insurance 171 Shop equipment (cost)...
100
Cash at bank
110
Accounts receivable
120
Inventory
130
Prepaid insurance
171
Shop equipment (cost)
172
Accumulated depreciation - shop equipment
200
Accounts payable
210
PAYG withholding payable
220
Superannuation payable
230
Bank loan
300
Capital
310
Drawings
320
Profit or loss summary
400
Sales revenue
410
Sales returns and allowances
420
Discount received
500
Cost of sales
600
Advertising expense
610
Depreciation expense
620
Discount allowed
630
Electricity expense
640
Insurance expense
650
Interest expense
660
Postage and...
Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 3% charge on sales for using its card. On June 28, Jervis had $3,500 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? Multiple Choice Debit Cash $3,500; credit Sales $3,500 Debit Accounts Receivable $3,500; credit Sales $3,500 O Debit Cash $3,605; credit Credit Card Expense $105; credit Sales $3,500 O Debit Cash $3,395; debit...
m4 Chapters 7-8 X Metp://newcornectunhedacation.com cam 4 Chapters 78 /comedel Help Seve Exit Brinker accepts all major bank credit cards, including Fast Savings Bank's which assesses a 45% charge on sales for using is card On May 26. Brinker had $5000 in First Savings Bank Card credit sales. Whatentry should r emake on May 26 to record the depos Multiple Choice O Debit Cash 54775, debit Credit Card Expense $225. credit les 55.000 O Debit Accounts Receivable $5.000, credit Sales...
Mackenzie Company sold $580 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 4.0% service charge for sales on its credit cards. Mackenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately The journal entry to record this sale transaction would be: Multiple Choice O Debit Cash of $580 and credit Accounts Receivable-Regional $580. ) Debit Cash of $580 and credit Sales $580. ooooo Debit Accounts...
It said april 12 Accounts recievable- continental was wrong.
Exerclse 7-2 Accounting for credit card sales LO C1 Levine Company uses the perpetual inventory system and allows customers to use two credit cards in charging purchases. With the Suntrust Bank Card, a 4% service charge for credit card sales is assessed. The second credit card that Levine accepts is the Continental Card. Continental assesses a 2.5% charge on sales for using its card. Apr. 8 Sold merchandise for $8,48 (that...
A Stello's Berry Farm accepted a bank-issued credit card in payment of a $1,300 sales transaction. Stelloh's bank charges 3% to process the transaction. The Journal entry to record the sales transaction will include (Ignore cost of goods sold) O A. a debit to Cash for $1,300 and a credit to Sales Revenue for $1,300 OB. a debit to Accounts Recevable for $1,261 and a credit to Sales Revenue for $1,261 O C. a debit to Accounts Receivable for $1,300,...
Schofield Retailers accepted $40000 of Silver Bank MasterCard
credit card charges for merchandise sold on August 1. Silver Bank
charges 4% for its credit card use. The entry to record this
transaction by Schofield Retailers will include a credit to Sales
Revenue of $40000 and a debit(s) to
Accounts Receivable for $40000.
Accounts receivable for $38400 and Service Charge Expense for
$2400.
Cash for $38400 and Service Charge Expense for $1600.
Cash for $40000.
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...
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...
Gemstone P used by Gem and all cred stone Products allows customers to use bank credit cards to charge purchases. The bank by Gemstone Products processes all bank credit cards in exchange for a 3% processing fee all credit card receipts deposited are credited to the company account on the day of deposit. ssume that on January 18, Gemstone Products sold and deposited $18,000 worth of bank credit card receipts. Prepare the general journal entry to record this transaction. 9)...
100
Cash at bank
110
Accounts receivable
120
Inventory
130
Prepaid insurance
171
Shop equipment (cost)
172
Accumulated depreciation - shop equipment
200
Accounts payable
210
PAYG withholding payable
220
Superannuation payable
230
Bank loan
300
Capital
310
Drawings
320
Profit or loss summary
400
Sales revenue
410
Sales returns and allowances
420
Discount received
500
Cost of sales
600
Advertising expense
610
Depreciation expense
620
Discount allowed
630
Electricity expense
640
Insurance expense
650
Interest expense
660
Postage and...
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