Make the Cullumber Town journal entries for the transactions

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Reference no: EM132838704

Question -

1. On March 15, 40 customers used debit cards to purchase merchandise for a total of $9,200 from Cullumber Town. Cullumber Town pays a $1.15 debit card fee for each transaction.

2. On June 21, Bramble Creations Gallery sells a painting to Constance Furrow for $2,400. Constance uses her Visa bank credit card to pay for the purchase. The bank charges Bramble Creations a 5% fee for all credit card transactions. On July 17, Constance receives her Visa bill and pays for this purchase.

3. On October 7, A. Ramos uses his store credit card to purchase merchandise from The Marin for $620. On November 10, Ramos receives his credit card bill from The Marinand pays for this purchase.

(a) Make the Cullumber Town's journal entries for the transactions in part (1).

(b) Make the Bramble Creations' journal entries for the transactions in part (2).

(c) Prepare the Marin's journal entries for the transactions in part (3).

Reference no: EM132838704

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