Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $5,500 (that had cost $4,065) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. April 12 Sold merchandise for $3,000 (that had cost $1,944) 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. Note: Round your answers to the nearest whole dollar amount. 1 1 2 2 Sold merchandise for $5,500 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. 3 3 Nota: Entar dahite before credite 4 4 Record the cost of goods sold, $4,065. 3 Journal entry worksheet < 1 2 4 Sold merchandise for $3,000 and accepted the customer's Continental Card. Continental charges a 2.5% fee. Journal entry worksheet < 1 2 3 4 Record the cost of goods sold, $1,944. >

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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answer in text form please (without image), Note: .Every entry should have narration please
Levine Company uses the perpetual inventory system.
April 8 Sold merchandise for $5,500 (that had cost $4,065) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee.
April 12 Sold merchandise for $3,000 (that had cost $1,944) 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.
Note: Round your answers to the nearest whole dollar amount.
1
1
2
2
Sold merchandise for $5,500 and accepted the customer's Suntrust Bank Card.
Suntrust charges a 4% fee.
3
3
Nota: Entor dohite hofore credite
4
4
Record the cost of goods sold, $4,065.
3
Journal entry worksheet
< 1 2
4
Sold merchandise for $3,000 and accepted the customer's Continental Card.
Continental charges a 2.5% fee.
Journal entry worksheet
< 1 2 3
4
Record the cost of goods sold, $1,944.
Transcribed Image Text:Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $5,500 (that had cost $4,065) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. April 12 Sold merchandise for $3,000 (that had cost $1,944) 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. Note: Round your answers to the nearest whole dollar amount. 1 1 2 2 Sold merchandise for $5,500 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. 3 3 Nota: Entor dohite hofore credite 4 4 Record the cost of goods sold, $4,065. 3 Journal entry worksheet < 1 2 4 Sold merchandise for $3,000 and accepted the customer's Continental Card. Continental charges a 2.5% fee. Journal entry worksheet < 1 2 3 4 Record the cost of goods sold, $1,944.
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