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Transactions follow for the Sheridan Sports Ltd
Transactions follow for the Sheridan Sports Ltd. store and four of its customers in the company's first month of business June 3 6 9 Ben Kidd used his Sheridan Sports credit card to purchase $960 of merchandise Biljana Pavic used her MasterCard credit card to purchase 5760 of merchandise MasterCard charges a 25% service fee Nicole Montpetit purchased $391 of merchandise on account terms 2/10/30 Bonnie Cutcliffe used her debit card to purchase 5218 of merchandise. There is a $0.50 service charge on all debit card transactions Ben Kidd made a $318 payment on bois credit card account Nicole Montpetit purchased additional 5524 of merchandise on account terms 2/10, 1/60 Nicole Montbelt paid the amount owing on baca burchase Pother MasterCard purchase 5-80 of merchandise MasterCard charges a 25% service for 19 20 2 25 30 corabo intory.costofconds sold and und biety tries for the purposes of this question Cedit account titles are automatically indented when the amounts witre. Do not indent manually if entry pure selecte for the amounts. Round answers to 2 decimal process. 52.75 Record journal entries in the order
Date Account Titles and Explanation Debit Crexit To record sale using credit card.) June 6 (To record sale using credit card To records account June 19
Collection on credit cards To record sale on account To record collection on account) June 30 (Torecard sale using credit card
Expert Solution
| Date | Particulars | Debit $ | Credit $ |
| June3 | Bank A/c Dr. | 960 | |
| To Sales A/c | 960 | ||
| June6 | Bank A/c Dr.(760-2.5%) | 741 | |
| Credit Card Expense A/c Dr. (760*2.5%) | 19 | ||
| To Sales A/c | 760 | ||
| June9 | Nicole Montpetit - Customer A/c Dr. | 391 | |
| To Sales A/c | 391 | ||
| June19 | Bank A/c Dr. | 216.91 | |
| Debit Card Expense A/c Dr. | 1.09 | ||
| To Sales A/c | 218 | ||
| June20 | Bank A/c Dr. | 318 | |
| To Ben Kidd- Customer A/c | 318 | ||
| June23 | Nicole Montpetit - Customer A/c Dr. | 524 | |
| To Sales A/c | 524 | ||
| June25 | Bank A/c Dr. | 391 | |
| To Nicole Montpetit - Customer A/c | 391 | ||
| June30 | Bank A/c Dr. | 468 | |
| Credit Card ExpenseA/c Dr. | 12 | ||
| To B. Pavic - Customer A/c | 480 |
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