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 94 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
Great answer, keep it coming :)

kusterl

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Here's how comic book heroes are made Here's how comic book heroes are made
In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai
Emanuel Leutze’s Washington Crossing the Delaware (1851) is riddled with historical inaccuracies, mo Emanuel Leutze’s Washington Crossing the Delaware (1851) is riddled with historical inaccuracies, mo
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
Sample of an insurance card. Sample of an insurance card.
Easter egg kids drawing JK march 28 2024 Easter egg kids drawing JK march 28 2024
Video: Male Reproductive System - The gonadotropin releasing hormone

For a complete list of videos, visit our video library