Ask Question
BusinessBusiness
Today, 19:48

Apr. 8 Sold merchandise for $6,600 (that had cost $4,877) and accepted the customer's Suntrust Bank Card. 12 Sold merchandise for $6,600 (that had cost $4,277) and accepted the customer's Continental Card. Prepare journal entries to record the above selected credit card transactions of Levine Company.

+2
Answers (1)
  1. Today, 19:57
    0
    Account Receivables - Suntruck bank card 6,600 debit

    Sales Revenue 6,600 credit

    -to record sale on credit card--

    Account Receivables - Continental card 6,000 debit

    Sales Revenue 6,000 credit

    --to record sale on credit card--

    Explanation:

    We will recognize our sales revenue for the entire amount

    adn debit the credit card accout.

    Then, when the acconts are collected we will declare the fees expense, if there is any. Currently we aren't given with any fee so we post the entire amount under account receivable.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Apr. 8 Sold merchandise for $6,600 (that had cost $4,877) and accepted the customer's Suntrust Bank Card. 12 Sold merchandise for $6,600 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The first step in transferring journal entry amounts to ledger accounts involves
Answers (1)
Kayla smith is engaged in research that seeks to explain inner meanings and motivations associated with customers' purchase of clothing. she records customers' words and observes their interactions as they shop.
Answers (1)
Joe has just moved to a small town with only one golf course, the Northlands Golf Club. His inverse demand function is pequals 160minus2 q, where q is the number of rounds of golf that he plays per year.
Answers (1)
If a country has a rising middle class what does this social change mean for business? A: there will be more people with discretionary income creating business opportunities.
Answers (1)
10) A fund where money is held by your financial institution to pay amounts that will come due during the year is called a (an)
Answers (1)
New Questions in Business
Which example is a fixed expense? entertainment groceries electricity car payment
Answers (1)
Apr. 8 Sold merchandise for $6,600 (that had cost $4,877) and accepted the customer's Suntrust Bank Card. 12 Sold merchandise for $6,600 (that had cost $4,277) and accepted the customer's Continental Card.
Answers (1)
The following information is known for the month of December: Purchases of supplies during December total $4,500. Supplies on hand at the end of December equal $3,500. No insurance payments are made in December. Insurance cost is $2,000 per month.
Answers (1)
What is a disadvantage of Maria's staying home with her children until the youngest is of school age?
Answers (1)
Which of the following systems would work best for a very standardized product that has a fairly high and predictable demand? a. make-to-order system b. make-to-stock system c. flexible flow system d. assembly-to-order batch system
Answers (1)
Home » Business » Apr. 8 Sold merchandise for $6,600 (that had cost $4,877) and accepted the customer's Suntrust Bank Card. 12 Sold merchandise for $6,600 (that had cost $4,277) and accepted the customer's Continental Card.
Sign Up Forgot Password?