1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ikadub [295]
3 years ago
14

Jarrod's Meat Shop doubles as a butcher shop and a sandwich shop that sells to both individuals and a nearby hospital system. On

a particular day, Jarrod's had cash sales of $450, credit sales of $600, sales on MasterCard of $657, and sales on Visa of $923. The sales on credit cards incur merchant charges of 1.6% for MasterCard and 1.9% for Visa.
Required:
Prepare a journal entry to record these sales.
Business
1 answer:
ASHA 777 [7]3 years ago
5 0

Answer:

Commission on Master card = 657*1.6%

Commission on Master card = $10.51

Commission on Visa = 923*1.9%

Commission on Visa = $17.54

Bank = $657 + $923 - $10.51 - $17.54

Bank = $1,551.95

Date   Journal entry                    Debit       Credit

          Cash A/C                          $450

          Account Receivables      $600

          Bank A/C                          $1,551.95

          ($646.49+$905.46)

          Commission A/C              $28.05

          ($10.51+$17.54)

                   To Sales A/C                             $2,630

                   ($450+$600+$657+$923)

You might be interested in
Why is it important to maintain a career portfolio?
Leno4ka [110]

Answer:

The answer is D

Explanation:

4 0
2 years ago
During the second quarter of the year, Wallace Enterprises received $30,000 from customers in exchange for providing electronic
SSSSS [86.1K]

Answer:

On an income statement, the company would declare c. $21,000 expenses

Explanation:

Wallace Enterprises received $30,000 from customers in exchange for providing electronic components. Income from the exchange was $30,000

During the second quarter of the year, total expense = supplies expense + interest expenses + wages expense = $5,000 + $1,000 + $15,000 = $21,000

Income from the exchange - total expense = $30,000 - $21,000 = $9,000>0

The company recognizes gain $9,000.

On an income statement, the company would declare $21,000 expenses

5 0
3 years ago
!. without asking, you help a coworker who is burdened by multiple and fast approaching deadlines.
PtichkaEL [24]
I believe it is C, hope this helps!!
8 0
3 years ago
Indi and Indrani are sisters who own a software development company. Demand has been increasing for their products and services
Alexandra [31]

Answer:

open an new office because the expected marginal benefit ($12.5 million over 5 years) is greater than the estimated marginal cost ($7 million)

Explanation:

The computation is shown below;

Given that

Total marginal benefit = 12.5 million

And, the Total marginal cost = 7 million

Based on the above information

We can see that the new office should be opened as the marginal benefit would be more than the marginal cost

Therefore the first option is correct

And, the rest of the options would be incorrect

4 0
3 years ago
Sacha, a dentist, has significant investment assets. She holds corporate bonds, municipal bonds, stocks and mutual funds. Sacha
erik [133]

Answer:

C) Part of the $1,500 fee will be disallowed due to the holding of the municipal bonds

Explanation:

the investment-related expenses are deductible as the miscellaneous itemized deductions. in the case the tax-exemp securities are help, the proportionate investment-related expenses are allocated to these securities and the are not allowed since the income is tax-exempt.

4 0
3 years ago
Other questions:
  • Find the compounded amount. Assume 3.5% interest compounded daily.$2,750 deposited June 12 and withdrawn August 30
    11·1 answer
  • A system in which companies purchase raw materials only when needed is called
    15·1 answer
  • Which type of financial institution typically has membership requirements?
    12·2 answers
  • Sara is the team leader for the remote coding project team at her hospital. She has brought together coders, IT technicians, and
    12·1 answer
  • When faced with a business problem, sally, a young grocery store owner, discusses business problems with don, the assistant mana
    10·1 answer
  • Sanders Enterprises arranged a revolving credit agreement of $9,000,000 with a group of banks. The firm paid an annual commitmen
    9·1 answer
  • Suppose a large country experiences economic growth which results in a reduced willingness to trade. The country’s terms of trad
    14·1 answer
  • Ana is trying to finish an account analysis for a client, but she's missing data. She e-mails Claire in database administration
    10·1 answer
  • Zelenka Clinic uses client-visits as its measure of activity. During June, the clinic budgeted for 2,700 client-visits, but its
    10·1 answer
  • Cool People publications focuses their marketing efforts on reaching African-American teenage girls. The firm believes that they
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!