Answer:
cash 116,300 debit
sales revenues 116,300 credit
-- to record sales in cash --
Cost of Goods Sold 72,000 debit
Inventory 72,000 credit
-- COGS for the previous sales--
account receivable 755,000 debit
sales revenues 755,000 credit
-- to record sales in cash --
Cost of Goods Sold 400,000 debit
Inventory 400,000 credit
-- COGS for the previous sales--
account receivable 1,950,000 debit
sales revenues 1,950,000 credit
-- to record sales in cash --
Cost of Goods Sold 1,250,000 debit
Inventory 1,250,000 credit
-- COGS for the previous sales--
account receivable 330,000 debit
sales revenues 330,000 credit
-- to record sales in cash --
Cost of Goods Sold 230,000 debit
Inventory 230,000 credit
-- COGS for the previous sales--
Credit card expense 81,500 debit
Cash 81,500 credit
--to record payment of fees to credit car--
Explanation:
We will recognize the sales revenue for the sales when they occur.
If was on cash we use cash else, account receivable
Then, we will decrease our inventory by the cost of the goods sold and declare this expense.
Finally, the fees will be considered an expense relatesd to the use of credit card.
