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mafiozo [28]
2 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]2 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)

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The correct answer is False

Explanation:

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Due to this, it is common child care provides find themselves caring for a child with conditions such as measles, food allergies, bronchitis, and even asthma. In the case of asthma, this is can be found in around 10% of children, and therefore it is not extremely uncommon child care providers had to take care of a child with asthma.

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