How do I put "Cash sales for the week were $2,800 plus tax. Bank credit card sales for the week were $1,200 plus tax. Bank credit card fee is 3%." In journal form
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How do I put "Cash sales for the week were $2,800 plus tax. Bank credit card sales for the week were $1,200 plus tax. Bank credit card fee is 3%." In journal form
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- Enter the following transactions in a cash receipts journal. Use a 5% sales tax rate. Total and rule the journal. If an amount box does not require an entry, leave it blank Feb. 2 John Door made an $890 payment on account. 7 Cash sales for the week, $2,140, plus sales tax. 11 Tom Chovin made a $600 payment on account. 14 Grace Borsetti made a $1,540 payment on account. 18 Cash sales for the week, $2,300, plus sales tax. 24 Peter Chan paid $540 on account. 28 Jean Amore paid $350 on account. CASH RECEIPTS JOURNAL Page 1 Accounts Sales Tax General Receivable Sales Payable Cash Account Credited Post. Ref. Credit Credit Credit Credit Debit Date Feb. 2 John Door 7 Cash sales 11 Tom Chovin 14 Grace Borsetti 18 Cash sales 24 Peter Chan 28 Jean AmoreOn November 1, the balance on your credit card is $533.76. On November 6, you make a purchase for $49.30. On November 8, you make a payment of $155. On November 12, you make a purchase for $76.51, and on November 25, you make a purchase for $32.64. Assume the billing date is the 1st of the month and the monthly finance charge is 1.7%. What is the average daily balance? $ What is the monthly finance charge? $ What is the balance at the start of the next month? $Jason’s Doughnut Shop had cash sales for the day of $700. In addition, all sales are subject to an 8% sales tax. What journal entry should be made to record the day’s sales and sales taxes? Show your calculations.
- What are the accounting entries required to record sales on credit of $10,000, on which sales tax is applied at the rate of 20%?Enter the following transactions in a cash receipts journal. Use a 5% sales tax rate. Total and rule the journal. If an amount box does not require an entry, leave it blank. Oct. 1 Jim White made a $600 payment on account. 8 Cash sales for the week, $3,000, plus sales tax. 10 Kristin Ludwin made a $600 payment on account. 15 Melissa Perez made a $3,570 payment on account. 17 Cash sales for the week, $2,600, plus sales tax. 25 Sue Lee paid $860 on account. 30 Matt Chang paid $934 on account. CASH RECEIPTS JOURNAL Page 1 Accounts Sales Tax Account General Receivable Payable Date Credited Post. Ref. Credit Credic Sales Credit Credit Cash Debit Oct. 1 Jim White 8 Cash sales 10 Kristin Ludwin 15 Melissa Perez 17 Cash sales 25 Sue Lee 30 Matt ChangA credit card bill for $559 was due on September 14. Purchases of $283 were made on September 19, and $15 was charged on September 28. A payment of $350 was made on September 25. The annual interest on the average daily balance is 21.5%. Find the finance charge due (in dollars) on the October 14 bill. (Use 365 for the number of days in a year. Round your answer to the nearest cent.) $?
- The activity date, company, and amount for a credit card bill are shown below. The due date of the bill is July 10. On June 10, there was an unpaid balance of $987.81. Find the finance charge if the interest rate is 1.9% per month. (Round your answer to the nearest cent.)10. Alexis Company has total credit sales proceeds of $4,515 in the check-out till. If the proceeds include sale tax of 8%, show the journal to record the sale.A business issued a 60-day note for $99,000 to a bank. The note was discounted at 7%. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity. Assume a 360-day year. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to nearest whole dollar.
- You get a credit card. The bill for $1024 was due on July 1. Purchases of $315 were made on July 7, and $410 was charged on July 22. A payment of $400 was made on July 15. The interest on the average daily balance is 1.2% per month. Find the finance charge on the August 1 bill.For questions 24-25, use the following information; Posner Co. is a retail store operating in a state with a 7% retail sales tax. Posner made credit sales of $750,000 which are subject to 7% sales tax, 24. Total receivables were recorded for how much? 750,o00 25. Sales Tax Payable is recorded for how much? 49. o65 For questions 26 & 27, use the following information: ABD Company pays a weekly payroll of $285,000 that includes federal taxes withheld of $38,100, FICA taxes withheld of $23,670, and 401(k) withholdings of $27,000. (Although not required, preparing journal entries may help you answer questions 26 & 27) 26. What is the effect of assets from the transaction(s)? • TWO ANSWERS REQUIRED - (Increase of decrease and $ how much) 27. What is the effect of liabilities from the transaction(s)? TWO ANSWERS REQUIRED - (Increase or decrease and $ how much)Using the unpaid balance method, find the current month's finance charge on a credit card account having the following transactions. Last month's balance: $365 Last payment: $210 Annual Interest rate: 18% Purchases: $544 Returns: $645 .... The finance charge is $ (Round to the nearest cent.)