Mercks uses the perpetual inventory system, and accepts the Discovery credit card for credit card sales. Discovery charges Mercks a 3% fee, and all credit card receipts deposited are credited to the company account on the day of deposit. Prepare journal entries to record the following transaction.
March 11 $\quad$$\quad$Sold merchandise for $\$ 4,500$ (that had cost $\$ 2,100$ ) and accepted the
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$customer's Discovery card.

Question

Mercks uses the perpetual inventory system, and accepts the Discovery credit card for credit card sales. Discovery charges Mercks a 3% fee, and all credit card receipts deposited are credited to the company account on the day of deposit. Prepare journal entries to record the following transaction.
 March 11 $\quad$$\quad$Sold merchandise for $\$ 4,500$ (that had cost $\$ 2,100$ ) and accepted the 
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$customer's Discovery card.

Quizplus · Accepted Answer

The Answer of Mercks uses the perpetual inventory system, and accepts the Discovery credit card for credit card sales. Discovery charges Mercks a 3% fee, and all credit card receipts deposited are credited to the company account on the day of deposit. Prepare journal entries to record the following transaction.
 March 11 $\quad$$\quad$Sold merchandise for $\$ 4,500$ (that had cost $\$ 2,100$ ) and accepted the 
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$customer's Discovery card.

Mercks Uses the Perpetual Inventory System, and Accepts the Discovery \quad

Mercks Uses the Perpetual Inventory System, and Accepts the Discovery $\quad$