Record the sale of merchandise, Accounting Basics

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Record the sale of merchandise

On May 10 Ritz Company sold merchandise for $6,000 and accepted the customer's First Business Bank MasterCard. At the end of the day, the First Business Bank MasterCard receipts were deposited in the company's bank account. First Business Bank charges a 3.5% service charge for credit card sales.

Prepare the entry on Ritz Company's books to record the sale of merchandise.

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Accounting Basics: Record the sale of merchandise

Reference No:- TGS068008

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Accounting Basics: Record the sale of merchandise

Reference No:- TGS068008

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Show that given situation in an isoquant-isocost diagram

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Q : Determination of earnings quality and persistence

Q : Necessity of good and availability of substitutes affect

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Record the sale of merchandise

Reference No:- TGS068008

Recent Questions Asked Accounting Basics

Q : Show that given situation in an isoquant-isocost diagram

Q : Calculate the company''s earnings per share

Q : Determination of earnings quality and persistence

Q : Necessity of good and availability of substitutes affect

Q : Record the sale of merchandise

Q : What price-output solution do expect to prevail

Q : How do a sole proprietorship and a corporation differ

Q : Number of stock transactions during the year

Q : What is profit-maximizing level of output and labor usage

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