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Exercise 7-2 Accounting for credit card sales LO C1 Levine Company uses the perpetual Inventory system and allows customers to use two credit cards in charging purchases. With the Suntrust Bank Card, a 4% service charge for credit card sales is assessed. The second credit card that Levine accepts is the Continental Card. Continental assesses a 2.5% charge on sales for using its card. Apr. & Sold merchandise for $3,8e (that had cost $2,217) and accepted the customer's Suntrust Bank Card. 12 Sold merchandise for $9,600 (that had cost $6,221) and accepted the customer's Continental Card. Prepare journal entries to record the above selected credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 3 4 Sold merchandise for $3,000 and accepted the customer's Suntrust Bank Card. Note: Enter debts before credits General Journal Debit Credit Dale Apr 00 Levine Company uses the perpetual inventory system and allows customers to use two credit cards in charging purchases. With the Suntrust Bank Card, a 4% service charge for credit card sales is assessed. The second credit card that Levine accepts is the Continental Card. Continental assesses a 2.5% charge on sales for using its card. Apr. 8 Sold merchandise for $3,eee (that had cost $2,217) and accepted the customer's Suntrust Bank Card. 12 Sold merchandise for $9.68 (that had cost $6,221) and accepted the customer's Continental Card. Prepare journal entries to record the above selected credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet Levine Company uses the perpetual inventory system and allows customers to use two credit cards in charging purchases. With the Suntrust Bank Card, a 4% service charge for credit card sales is assessed. The second credit card that Levine accepts is the Continental Card. Continental assesses a 2.5% charge on sales for using its card. Apr. 8 Sold merchandise for $3,ese (that had cost $2,217) and accepted the customer's Suntrust Bank Card. 12 Sold merchandise for $9,600 (that had cost $6,221) and accepted the customer's Continental Card. Prepare journal entries to record the above selected credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 3 Record the cost of goods sold, $6,221. Note: Enter de bore credits General Journal Debit Credit Apr 12 Record entry Clear entry View general journal Pray Next

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