Question

4 Sold $600 of merchandise on credit (that had cost $240) to Natara Morris, terms n/15. 5 Sold $8,200 of merchandise (that had cost $3,280) to customers who used their Zisa cards. Zisa charges a 6.0% fee. 6 Sold $6,110 of merchandise (that had cost $2,444) to customers who used their Access cards. Access charges a 5.0% fee. 8 Sold $4,400 of merchandise (that had cost $1,760) to customers who used their Access cards. Access charges a 5.0% fee. 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $683 balance in McKee’s account was from a credit sale last year. 18 Received Morris’s check in full payment for the June 4 purchase.

Answer 1

Accounts Receivables 600 debit

Sales Revenues 600 credit

--to record sale--

COGS 240 debit

Inventory 240 credit

--to record COGS of the previous sale--

Accounts Receivables 7,708 debit

credit card expense 492 debi

Sales Revenues 8200 credit

--to record sale--

COGS 3280 debit

Inventory 3280 credit

--to record COGS of the previous sale--

Accounts Receivables 5,804.5‬ debit

credit card expense 305.5 debi

Sales Revenues 6,110 credit

--to record sale--

COGS 2,444 debit

Inventory 2,444 credit

--to record COGS of the previous sale--

allowance for doubtful accounts 683 debit

accounts receivables 683 credit

--to record write-off of McKee's account--

cash 600 debit

account receivables 600 credit

--to record Morris payment in full--

Step-by-step explanation:

We record considering the accounting principles:

debit = credit

the creditcard will charge their fee and transfer to the company the remained that's why the account recievable is lower than sales nominal as the credit card colelct their fee first.