(Answered) Question - colaw stores accepts both its own and national

Accounting

Question - Colaw Stores accepts both its own and national credit cards. During the year, the following selected summary transactions occurred.

Jan. 15 Made Colaw credit card sales totaling $20,000. (There were no balances prior to January 15.)

Jan. 20 Made Visa credit card sales (service charge fee 4%) totaling $5,100.

Feb. 10 Collected $13,200 on Colaw credit card sales.

Feb. 15 Added finance charges of 3% to Colaw credit card account balances.

Journalize the transactions for Colaw Stores.

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