Journalize the following transactions for Stillwater Spa Consultants:   Oct. 1 Sold services for $100,000 to customers using debit cards. Assume the bank charges 0.5% for all debit card transactions.   7 Sold services to customers for $12,000 cash.   8 Recorded Visa credit card sales totaling $58,000. Assume visa applies fees of 2%.   10 Sold $42,000 of services to Edson Community Health Clinic, terms 2/15, n/30.   25 Collected the amount owing regarding the October 10 sale. Record-Journal entry 1. Record the sale of services; terms 2/15, n/30 (Oct 10)  2. Record the collection of the Oct. 10 credit sale. (Oct 25) Image attached for reference:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Journalize the following transactions for Stillwater Spa Consultants:
 

Oct. 1 Sold services for $100,000 to customers using debit cards. Assume the bank charges 0.5% for all debit card transactions.
  7 Sold services to customers for $12,000 cash.
  8 Recorded Visa credit card sales totaling $58,000. Assume visa applies fees of 2%.
  10 Sold $42,000 of services to Edson Community Health Clinic, terms 2/15, n/30.
  25 Collected the amount owing regarding the October 10 sale.

Record-Journal entry

1. Record the sale of services; terms 2/15, n/30 (Oct 10) 

2. Record the collection of the Oct. 10 credit sale. (Oct 25)

Image attached for reference: 

Date
General Journal
Debit
Credit
Oct 10
Transcribed Image Text:Date General Journal Debit Credit Oct 10
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