Consider these transactions. Write account titles and explanations, and whether they are debited or credited. (a)...
Consider these transactions. Write account titles and explanations, and whether they are debited or credited.
|
(a) |
Spooky Co. accepted a Visa card in payment of a $150 lunch bill. The bank charges a 4% fee. What entry should Spooky make? | |
|
(b) |
Candy Inc. sold its accounts receivable of $68,000. What entry should Candy make, given a service charge of 4% on the amount of receivables sold? |
Homework Answers
| A | Cash | 144 | |
| Bank charges/Credit card changes (150*4%) | 6 | ||
| Sales | 150 | ||
| B | Cash | 65,280 | |
| Service charges (68,000*4%) | 2720 | ||
| Accounts Receivable | 68,000 | ||
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Add Answer to:
Consider these transactions. Write account titles and
explanations, and whether they are debited or credited.
(a)...
Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent ma...
Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Crane Company accepted a Visa card in payment of a $300 lunch bill. The bank charges a 4% fee. What entry should Crane make? (b) Larkspur, Inc. sold its accounts receivable of $59,400. What entry should Larkspur make, given a service charge of 4% on the amount of receivables sold? No. Account Titles and Explanation Debit Credit (a) (b)
Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent...
Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Ivanhoe Company accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Ivanhoe make? (b) Metlock, Inc. sold its accounts receivable of $61,700. What entry should Metlock make, given a service charge of 3% on the amount of receivables sold? No. Account Titles and Explanation Debit Credit (a) (b)
Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent ma...
Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Crane Company accepted a Visa card in payment of a $400 lunch bill. The bank charges a 3% fee. What entry should Crane make? (b) Larkspur, Inc. sold its accounts receivable of $64,500. What entry should Larkspur make, given a service charge of 3% on the amount of receivables sold? No. Account Titles and Explanation Debit Credit (b)
CALCULATOR Brief Exercise 8-6 Consider these transactions: (Credit account titles are automatically indented whe...
CALCULATOR Brief Exercise 8-6 Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Grouper Corp. accepted a Visa card in payment of a $2,200 lunch bill. The bank charges a 3% fee. What entry should Grouper Corp. make? (b) Blue Spruce Corp. sold its accounts receivable of $66,900. What entry should Blue Spruce Corp. make, given a service charge of 3% on the amount of receivables sold? No. Account Titles and...
Brief Exercise 8-07 Consider these transactions: (Credit account titles are automatically indented when amount is entered....
Brief Exercise 8-07 Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Sheridan Company accepted a Visa card in payment of a $225 lunch bill. The bank charges a 4% fee. What entry should Sheridan make? (b) Skysong, Inc. sold its accounts receivable of $69,700. What entry should Skysong make, given a service charge of 4% on the amount of receivables sold? Debit Credit No. Account Titles and Explanation (a) (b)...
Presented below are two independent transactions. (Credit account titles are automatically indented when amount is entered....
Presented below are two independent transactions.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
a.
Tony’s Restaurant accepted a
Visa card in payment of a $200 lunch bill. The bank charges a 2%
fee. What entry should Tony’s make?
b.
Marigold Company sold its
accounts receivable of $75,000. What entry should Marigold make,
given a service charge of 1% on the amount of receivables
sold?
Account Titles and Explanation
Debit
Credit
a.
b.
Brief Exercise 8-6 Consider these transactions: (Credit account titles are automatically indented when amount is entered....
Brief Exercise 8-6 Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Shamrock, Inc. accepted a Visa card in payment of a $200 lunch bill. The bank charges a 396 fee, what entry should Shamrock, Inc. make? Nash's Trading Post, LLC sold its accounts receivable of $61,600, what entry should Nash's Trading Post, LLC make, given a service charge of 3% on the amount of receivables sold? No. Account Titles and...
Brief Exercise 8-07 Consider these transactions: (Credit Countries are automatically indented o n a n interes....
Brief Exercise 8-07 Consider these transactions: (Credit Countries are automatically indented o n a n interes. Det indent l y.) (a) Cullumber Company accepted a Visa card in payment of a $275 lunch bill. The bank charges a 4% fee. What entry should Cullumber make? (b) Marin Inc. sold its accounts receivable of $69,100. What entry should Marin make, given a service charge of 4% on the amount of receivables sold? No. Account Titles and Explanation
pharaoh company accepted a Visa card payment Question 2 View Policies Current Attempt in Progress Consider...
pharaoh company accepted a Visa card payment
Question 2 View Policies Current Attempt in Progress Consider these transactions: Creatit account tities are automatically indented when amount is entered. Do not indent manually (a) Pharoah Company accepted a Visa card in payment of a $400 lunch bill. The bank charges a 4% fee. What entry should Pharoah make? (b) Shamrock, Inc. sold its accounts receivable of $61,600. What entry should Shamrock make, given a service charge of 4% on the amount...
please help with this accounting question! Question 2 View Policies Current Attempt in Progress Consider these tran...
please help with this accounting question!
Current Attempt in Progress Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Cullumber Company accepted a Visa card in payment of a $350 lunch bill. The bank charges a 4% fee. What entry should Cullumber make? Marin Inc. sold its accounts receivable of $62.600. What entry should Marin make, given a service charge of 4 % on the amount of receivables so (a) () No....
Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Crane Company accepted a Visa card in payment of a $300 lunch bill. The bank charges a 4% fee. What entry should Crane make? (b) Larkspur, Inc. sold its accounts receivable of $59,400. What entry should Larkspur make, given a service charge of 4% on the amount of receivables sold? No. Account Titles and Explanation Debit Credit (a) (b)
Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Ivanhoe Company accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Ivanhoe make? (b) Metlock, Inc. sold its accounts receivable of $61,700. What entry should Metlock make, given a service charge of 3% on the amount of receivables sold? No. Account Titles and Explanation Debit Credit (a) (b)
Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Crane Company accepted a Visa card in payment of a $400 lunch bill. The bank charges a 3% fee. What entry should Crane make? (b) Larkspur, Inc. sold its accounts receivable of $64,500. What entry should Larkspur make, given a service charge of 3% on the amount of receivables sold? No. Account Titles and Explanation Debit Credit (b)
CALCULATOR Brief Exercise 8-6 Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Grouper Corp. accepted a Visa card in payment of a $2,200 lunch bill. The bank charges a 3% fee. What entry should Grouper Corp. make? (b) Blue Spruce Corp. sold its accounts receivable of $66,900. What entry should Blue Spruce Corp. make, given a service charge of 3% on the amount of receivables sold? No. Account Titles and...
Brief Exercise 8-07 Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Sheridan Company accepted a Visa card in payment of a $225 lunch bill. The bank charges a 4% fee. What entry should Sheridan make? (b) Skysong, Inc. sold its accounts receivable of $69,700. What entry should Skysong make, given a service charge of 4% on the amount of receivables sold? Debit Credit No. Account Titles and Explanation (a) (b)...
Presented below are two independent transactions.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
a.
Tony’s Restaurant accepted a
Visa card in payment of a $200 lunch bill. The bank charges a 2%
fee. What entry should Tony’s make?
b.
Marigold Company sold its
accounts receivable of $75,000. What entry should Marigold make,
given a service charge of 1% on the amount of receivables
sold?
Account Titles and Explanation
Debit
Credit
a.
b.
Brief Exercise 8-6 Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Shamrock, Inc. accepted a Visa card in payment of a $200 lunch bill. The bank charges a 396 fee, what entry should Shamrock, Inc. make? Nash's Trading Post, LLC sold its accounts receivable of $61,600, what entry should Nash's Trading Post, LLC make, given a service charge of 3% on the amount of receivables sold? No. Account Titles and...
Brief Exercise 8-07 Consider these transactions: (Credit Countries are automatically indented o n a n interes. Det indent l y.) (a) Cullumber Company accepted a Visa card in payment of a $275 lunch bill. The bank charges a 4% fee. What entry should Cullumber make? (b) Marin Inc. sold its accounts receivable of $69,100. What entry should Marin make, given a service charge of 4% on the amount of receivables sold? No. Account Titles and Explanation
pharaoh company accepted a Visa card payment
Question 2 View Policies Current Attempt in Progress Consider these transactions: Creatit account tities are automatically indented when amount is entered. Do not indent manually (a) Pharoah Company accepted a Visa card in payment of a $400 lunch bill. The bank charges a 4% fee. What entry should Pharoah make? (b) Shamrock, Inc. sold its accounts receivable of $61,600. What entry should Shamrock make, given a service charge of 4% on the amount...
please help with this accounting question!
Current Attempt in Progress Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Cullumber Company accepted a Visa card in payment of a $350 lunch bill. The bank charges a 4% fee. What entry should Cullumber make? Marin Inc. sold its accounts receivable of $62.600. What entry should Marin make, given a service charge of 4 % on the amount of receivables so (a) () No....
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