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Journalize the entries for the following transactions a Sold merchandise for cash 116300 The cost of the merchandise sold was 72000 b Sold merchandise on account 755000 The cost of the

Journalize the entries for the following transactions:
a. Sold merchandise for cash, $116,300. The cost of the merchandise sold was $72,000.

b. Sold merchandise on account, $755,000. The cost of the merchandise sold was $400,000.

c. Sold merchandise to customers who used MasterCard and VISA, $1,950,000. The cost of the merchandise sold was $1,250,000.

d. Sold merchandise to customers who used American Express, $330,000. The cost of the merchandise sold was $230,000.

e. Paid $81,500 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA, and American Express sales.

 
 
 

Apr 14 2021 View more View Less

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