Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions: a. Sold merchandise for cash, $22,060. The cost of the merchandise sold was $13,240. (Record the sale first.) fill in the blank 36fbb5ffffdef81_2 fill in the blank 36fbb5ffffdef81_3 fill in the blank 36fbb5ffffdef81_5 fill in the blank 36fbb5ffffdef81_6 fill in the blank 36fbb5ffffdef81_8 fill in the blank 36fbb5ffffdef81_9 fill in the blank 36fbb5ffffdef81_11 fill in the blank 36fbb5ffffdef81_12 b. Sold merchandise on account, $13,920. The cost of the merchandise sold was $8,350. (Record the sale first.) fill in the blank e95153f82fd6002_2 fill in the blank e95153f82fd6002_3 fill in the blank e95153f82fd6002_5 fill in the blank e95153f82fd6002_6 fill in the blank e95153f82fd6002_8 fill in the blank e95153f82fd6002_9 fill in the blank e95153f82fd6002_11 fill in the blank e95153f82fd6002_12 c. Sold merchandise to customers who used MasterCard and VISA, $104,980. The cost of the merchandise sold was $62,990. (Record the sale first.) fill in the blank e4ed72f88fa003c_2 fill in the blank e4ed72f88fa003c_3 fill in the blank e4ed72f88fa003c_5 fill in the blank e4ed72f88fa003c_6 fill in the blank e4ed72f88fa003c_8 fill in the blank e4ed72f88fa003c_9 fill in the blank e4ed72f88fa003c_11 fill in the blank e4ed72f88fa003c_12 d. Sold merchandise to customers who used American Express, $33,990. The cost of the merchandise sold was $20,390. (Record the sale first.) fill in the blank 88d820038074fdd_2 fill in the blank 88d820038074fdd_3 fill in the blank 88d820038074fdd_5 fill in the blank 88d820038074fdd_6 fill in the blank 88d820038074fdd_8 fill in the blank 88d820038074fdd_9 fill in the blank 88d820038074fdd_11 fill in the blank 88d820038074fdd_12 e. Paid $6,840 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA, and American Express sales. fill in the blank 0d145f077ffeffd_2 fill in the blank 0d145f077ffeffd_3 fill in the blank 0d145f077ffeffd_5 fill in the blank 0d145f077ffeffd_6

Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions: a. Sold merchandise for cash, $22,060. The cost of the merchandise sold was $13,240. (Record the sale first.) fill in the blank 36fbb5ffffdef81_2 fill in the blank 36fbb5ffffdef81_3 fill in the blank 36fbb5ffffdef81_5 fill in the blank 36fbb5ffffdef81_6 fill in the blank 36fbb5ffffdef81_8 fill in the blank 36fbb5ffffdef81_9 fill in the blank 36fbb5ffffdef81_11 fill in the blank 36fbb5ffffdef81_12 b. Sold merchandise on account, $13,920. The cost of the merchandise sold was $8,350. (Record the sale first.) fill in the blank e95153f82fd6002_2 fill in the blank e95153f82fd6002_3 fill in the blank e95153f82fd6002_5 fill in the blank e95153f82fd6002_6 fill in the blank e95153f82fd6002_8 fill in the blank e95153f82fd6002_9 fill in the blank e95153f82fd6002_11 fill in the blank e95153f82fd6002_12 c. Sold merchandise to customers who used MasterCard and VISA, $104,980. The cost of the merchandise sold was $62,990. (Record the sale first.) fill in the blank e4ed72f88fa003c_2 fill in the blank e4ed72f88fa003c_3 fill in the blank e4ed72f88fa003c_5 fill in the blank e4ed72f88fa003c_6 fill in the blank e4ed72f88fa003c_8 fill in the blank e4ed72f88fa003c_9 fill in the blank e4ed72f88fa003c_11 fill in the blank e4ed72f88fa003c_12 d. Sold merchandise to customers who used American Express, $33,990. The cost of the merchandise sold was $20,390. (Record the sale first.) fill in the blank 88d820038074fdd_2 fill in the blank 88d820038074fdd_3 fill in the blank 88d820038074fdd_5 fill in the blank 88d820038074fdd_6 fill in the blank 88d820038074fdd_8 fill in the blank 88d820038074fdd_9 fill in the blank 88d820038074fdd_11 fill in the blank 88d820038074fdd_12 e. Paid $6,840 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA, and American Express sales. fill in the blank 0d145f077ffeffd_2 fill in the blank 0d145f077ffeffd_3 fill in the blank 0d145f077ffeffd_5 fill in the blank 0d145f077ffeffd_6

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...

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Sales-Related Transactions, Including the Use of Credit Cards

Journalize the entries for the following transactions:

a. Sold merchandise for cash, $22,060. The cost of the merchandise sold was $13,240. (Record the sale first.)

		fill in the blank 36fbb5ffffdef81_2	fill in the blank 36fbb5ffffdef81_3
		fill in the blank 36fbb5ffffdef81_5	fill in the blank 36fbb5ffffdef81_6
		fill in the blank 36fbb5ffffdef81_8	fill in the blank 36fbb5ffffdef81_9
		fill in the blank 36fbb5ffffdef81_11	fill in the blank 36fbb5ffffdef81_12

b. Sold merchandise on account, $13,920. The cost of the merchandise sold was $8,350. (Record the sale first.)

		fill in the blank e95153f82fd6002_2	fill in the blank e95153f82fd6002_3
		fill in the blank e95153f82fd6002_5	fill in the blank e95153f82fd6002_6
		fill in the blank e95153f82fd6002_8	fill in the blank e95153f82fd6002_9
		fill in the blank e95153f82fd6002_11	fill in the blank e95153f82fd6002_12

c. Sold merchandise to customers who used MasterCard and VISA, $104,980. The cost of the merchandise sold was $62,990. (Record the sale first.)

		fill in the blank e4ed72f88fa003c_2	fill in the blank e4ed72f88fa003c_3
		fill in the blank e4ed72f88fa003c_5	fill in the blank e4ed72f88fa003c_6
		fill in the blank e4ed72f88fa003c_8	fill in the blank e4ed72f88fa003c_9
		fill in the blank e4ed72f88fa003c_11	fill in the blank e4ed72f88fa003c_12

d. Sold merchandise to customers who used American Express, $33,990. The cost of the merchandise sold was $20,390. (Record the sale first.)

		fill in the blank 88d820038074fdd_2	fill in the blank 88d820038074fdd_3
		fill in the blank 88d820038074fdd_5	fill in the blank 88d820038074fdd_6
		fill in the blank 88d820038074fdd_8	fill in the blank 88d820038074fdd_9
		fill in the blank 88d820038074fdd_11	fill in the blank 88d820038074fdd_12

e. Paid $6,840 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA, and American Express sales.

		fill in the blank 0d145f077ffeffd_2	fill in the blank 0d145f077ffeffd_3
		fill in the blank 0d145f077ffeffd_5	fill in the blank 0d145f077ffeffd_6

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Required journal entries are given below:

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