This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The Multiplex Mart accepts VISA. During March, 140,000 in credit card sales were made. VISA charges ... (Read 90 times)

c0205847

  • Hero Member
  • *****
  • Posts: 531
on: Jul 5, 2018
The Multiplex Mart accepts VISA. During March, 140,000 in credit card sales were made. VISA charges 3 of sales as its service fee. Prepare the entry to record the credit card sales. Include the account titles and amounts.
 
  Shareholders' equity
  Assets Liab. CC Retained earnings

Question 2

An element of internal control is
 a. risk assessment
  b. journals
  c. subsidiary ledgers
  d. controlling accounts


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

triiciiaa

  • Sr. Member
  • ****
  • Posts: 349
Reply #1 on: Jul 5, 2018
Answer to Question 1

Shareholders' equity
Assets Liab. CC Retained earnings
+ 135,800 Accounts receivable - VISA + 140,000 Sales
(4,200) Credit card expense

Answer to Question 2

a


c0205847

  • Member
  • Posts: 531
Reply 2 on: Jul 5, 2018
:D TYSM

Viet Thy

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

A purse made from a cane toad. A purse made from a cane toad.
Early in the twentieth century, when malnutrition was common, companies such as this one advertised Early in the twentieth century, when malnutrition was common, companies such as this one advertised
Equinoxes: March 21 and September 21 Equinoxes: March 21 and September 21
How many grams of CO2 can be made from reacting 78.1 g of O2 and 62.4 g of C4H10?2 C4H10 + 13 ... How many grams of CO2 can be made from reacting 78.1 g of O2 and 62.4 g of C4H10?2 C4H10 + 13 ...
Chart showing average yearly dose of radiation from natural and human-made sources Chart showing average yearly dose of radiation from natural and human-made sources
My march exercises My march exercises
Video: The Vestibular System

For a complete list of videos, visit our video library