question archive 10Colaw Stores accepts both its own and national credit cards
10Colaw Stores accepts both its own and national credit cards
Subject:AccountingPrice: Bought3
10Colaw Stores accepts both its own and national credit cards. During the year, the following selected summary transactions occurred.
Jan. 15 Made Colaw credit card sales totaling $18,000. (There were no balances prior to January 15.)20 Made Visa credit card sales (service charge fee 2%) totaling $4,500.Feb. 10 Collected $10,000 on Colaw credit card sales.15 Added finance charges of 1.5% to Colaw credit card account balances.
(a)
Journalize the transactions for Colaw Stores. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
DateAccount Titles and ExplanationDebitCreditJan. 15 Jan. 20 Feb. 10 Feb. 15
