Colaw Stores accepts both its own and national credit cards. During the year, the following selected summary transactions occurred. Jan. 15 Made Colaw credit card sales totaling $18,000. (There were no balances prior to January 15.) 20 Made Visa credit card sales (service charge fee 2%) totaling $4,500. Feb. 10 Collected $10,000 on Colaw credit card sales. 15 Added finance charges of 1.5% to Colaw credit card account balances. Journalize the transactions for Colaw Stores. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Colaw Stores accepts both its own and national credit cards. During the year, the following selected summary transactions occurred. Jan. 15 Made Colaw credit card sales totaling $18,000. (There were no balances prior to January 15.) 20 Made Visa credit card sales (service charge fee 2%) totaling $4,500. Feb. 10 Collected $10,000 on Colaw credit card sales. 15 Added finance charges of 1.5% to Colaw credit card account balances. Journalize the transactions for Colaw Stores. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter24: Recording International And Internet Sales
Section: Chapter Questions
Problem 1MP
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