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Accounting

Journalize the entries for the following transactions:

Sold merchandise for cash $12, 050. The cost of merchandise sold was $9, 000.

Sold merchandise on account $6, 000.The cost of merchandise sold was $4, 000.

Sold merchandise to customers who used MasterCard and Visa $30, 780. The cost of the merchandise sold was $20, 000

Sold merchandise to customers who used American Express $17, 650. The cost of the merchandise sold was $10, 500

Received an invoice from National Credit Company for $1, 900.00 representing a service fee paid for processing MasterCard, Visa and American Express sales.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91975438

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