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
mafiozo [28]
3 years ago
7

Apr. 8 Sold merchandise for $9,500 (that had cost $7,021) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4%

fee. 12 Sold merchandise for $7,400 (that had cost $4,795) and accepted the customer's Continental Card. Continental charges a 2.5% fee. Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.)
Business
1 answer:
padilas [110]3 years ago
4 0

Answer and Explanation:

The journal entries are shown below:

On April 8  

Cash   $9,120

Credit card expense   $380 ($9,500 × 0.04)

             To Sales  $9,500

(Being sale is recorded)

Costs of goods sold  $7,021

       To Merchandise inventory    $7,021

(Being the cost of goods sold is recorded)

On April 12

Cash   $7,215

Credit card expense   $185 ($7,400 × 2.5%)

             To Sales  $7,400

(Being sale is recorded)

Costs of goods sold  $4,795

       To Merchandise inventory    $4,795

(Being the cost of goods sold is recorded)

You might be interested in
Suppliers deliver product to restaurants on a regular schedule throughout the week. You are responsible for checking delivery or
Katen [24]

Answer: e) All of the above

Explanation:

6 0
3 years ago
Minimizing the risk is the most important principle in the television business. True, or False?
Sergio [31]
<span>Minimizing the risk is the most important principle in the television business. So True.

</span>
5 0
3 years ago
Select the correct answer.
UkoKoshka [18]

Answer:

B. customer relationship management

5 0
2 years ago
You have a team that has high cultural diversity and high interdependence, increasing the risk of disagreements in the team. Kno
Dominik [7]

Answer:

A. Conflict resolution abilities

Explanation:

Conflict resolution ability is the capacity of a person or group of persons to effectively handle and manage the conflicts of interest or disagreement between two or more persons or two or more groups.

There are several skills used by people who have conflict resolution abilities such as COMMUNICATION, COMPROMISE, COLLABORATION, ACCOMMODATION ETC.

4 0
3 years ago
Read 2 more answers
Describe the gas station and its immediate surroundings.
vladimir1956 [14]
The very first thing that should be considered when it comes to the location of the gasoline station is its accessibility to the consumers. As a general guideline, it should be located approximately 500 ft from any public institution including churches, malls, schools, etc. 
3 0
3 years ago
Other questions:
  • Vest Industries manufactures 40,000 components per year. The manufacturing cost of the components was determined as follows: Dir
    13·1 answer
  • Rob and Lori purchased a home for $350,000 with an additional $5,000 in related purchase costs and then added a garage at a cost
    5·1 answer
  • In intrapersonal communication, you use the language and symbols that were communicated to you through your culture.
    7·1 answer
  • Blue Seas Cruiseline offers two types of dinner​ cruises: Regular and Executive. The contribution margin per ticket sold is​ $30
    6·2 answers
  • Cardwire Inc. has decided to lower the price of all its products to keep up with its competitors. To achieve this, the company n
    15·1 answer
  • Which of the following tells you how much your credit card interest will be if you only pay the minimum balance each month? A La
    14·1 answer
  • You were hired as a consultant to the ABC Company, whose target capital structure is 35% debt, 10% preferred, and 55% common equ
    15·1 answer
  • To measure system performance, companies use _____, which uses a set of standard tests on one system to compare its performance
    5·1 answer
  • Alicia Tax Services paid $690 to settle an account payable. Which of the following general journal entries will Alicia Tax Servi
    9·1 answer
  • For each decision, state whether the company is following a cost leadership or a product differentiation strategy.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!