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 71 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 :)

scottmt

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Listening to Normal Speech or Its Prosodic Components Functional MRI scans were made while subjects Listening to Normal Speech or Its Prosodic Components Functional MRI scans were made while subjects
A healthy diet is made up of well-balanced nutrients. A healthy diet is made up of well-balanced nutrients.
Two tiny particles having charges of +7.00 μC and -9.00 μC are placed along the y-axis. The ... Two tiny particles having charges of +7.00 μC and -9.00 μC are placed along the y-axis. The ...
An electrician charges a flat fee of $90 for a home service call. In addition he charges $25 ... An electrician charges a flat fee of $90 for a home service call. In addition he charges $25 ...
March 31 2023 March 31 2023
Easter story kids March 20 2024 Easter story kids March 20 2024
Video: Renal Failure

For a complete list of videos, visit our video library