Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions: Question Content Area a. Sold merchandise for cash, $20,280. The cost of the merchandise sold was $12,170. (Record the sale first.) blank - Select - - Select - - Select - - Select - blank - Select - - Select - - Select - - Select - Question Content Area b. Sold merchandise on account, $8,130. The cost of the merchandise sold was $4,880. (Record the sale first.) blank - Select - - Select - - Select - - Select - blank - Select - - Select - - Select - - Select - Question Content Area c. Sold merchandise to customers who used MasterCard and VISA, $122,860. The cost of the merchandise sold was $73,720. (Record the sale first.) blank - Select - - Select - - Select - - Select - blank - Select - - Select - - Select - - Select - Question Content Area d. Sold merchandise to customers who used American Express, $46,390. The cost of the merchandise sold was $27,830. (Record the sale first.) blank - Select - - Select - - Select - - Select - blank - Select - - Select - - Select - - Select - Question Content Area e. Paid $6,290 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA, and American Express sales. blank - Select - - Select - - Select - - Select
Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions: Question Content Area a. Sold merchandise for cash, $20,280. The cost of the merchandise sold was $12,170. (Record the sale first.) blank - Select - - Select - - Select - - Select - blank - Select - - Select - - Select - - Select - Question Content Area b. Sold merchandise on account, $8,130. The cost of the merchandise sold was $4,880. (Record the sale first.) blank - Select - - Select - - Select - - Select - blank - Select - - Select - - Select - - Select - Question Content Area c. Sold merchandise to customers who used MasterCard and VISA, $122,860. The cost of the merchandise sold was $73,720. (Record the sale first.) blank - Select - - Select - - Select - - Select - blank - Select - - Select - - Select - - Select - Question Content Area d. Sold merchandise to customers who used American Express, $46,390. The cost of the merchandise sold was $27,830. (Record the sale first.) blank - Select - - Select - - Select - - Select - blank - Select - - Select - - Select - - Select - Question Content Area e. Paid $6,290 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA, and American Express sales. blank - Select - - Select - - Select - - Select
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter9: Sales And Purchases
Section: Chapter Questions
Problem 5PA: Gomez Company sells electrical supplies on a wholesale basis. The balances of the accounts as of...
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Question
Sales-Related Transactions, Including the Use of Credit Cards
Question Content Area
a. Sold merchandise for cash, $20,280. The cost of the merchandise sold was $12,170. (Record the sale first.)
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b. Sold merchandise on account, $8,130. The cost of the merchandise sold was $4,880. (Record the sale first.)
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c. Sold merchandise to customers who used MasterCard and VISA, $122,860. The cost of the merchandise sold was $73,720. (Record the sale first.)
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d. Sold merchandise to customers who used American Express, $46,390. The cost of the merchandise sold was $27,830. (Record the sale first.)
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Question Content Area
e. Paid $6,290 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA, and American Express sales.
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