Pagan Restaurants accepts credit and debit cards as forms of payment. Assume Pagan had $10,000 of credit and debit card sales on April 30, 2023.9.10.Suppose Pagan's processor charges a 1% fee and deposits sales net of the fee. Joumalize the sales transaction for the restaurant.Suppose Pagan's processor charges a 1% fee and deposits sales using the gross method. Journalize the sales transaction for the restaurant.9. Suppose Pagan's processor charges a 1% fee and deposits sales net of the fee. Journalize the sales transaction for the restaurant. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.)DateAccounts and ExplanationDebitCreditApr. 3010. Suppose Pagan's processor charges a 1% fee and deposits sales using the gross method. Joumalize the sales transaction for the restaurant.DateApr. 30Accounts and ExplanationDebitCredit

Under Gross Method, sales are recorded at full invoice price without any deduction in discounts.…

Answered: Pagan Restaurants accepts credit and…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 3EA: Consider the following transaction: On March 6, Fun Cards sells 540 card decks with a sales price of...

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Consider the following transaction: On March 6, Fun Cards sells 590 card decks with a sales price of $10 per deck to Padma Singh. The cost to Fun Cards is $3 per deck. Prepare a journal entry under each of the following conditions. Assume MoneyPlus charges a 3% fee for each sales transaction using its card. А. Payment is made using a credit, in-house асcount. В. Payment is made using a MoneyPlus credit card. If an amount box does not require an entry, leave it blank. Round your answers to two decimal places. 88 A. Mar. 6 To record sale of card decks Mar. 6 To record cost of sale B. Mar. 6 To record sale of card decks, 3% credit card fee 88 Mar. 6 To record cost of sale II II 1II I0
Restaurants do a large volume of business by credit and debit cards. Suppose Cityside Collection restaurant had these transactions on January 28, 2024: (Click the icon to view the transactions.) Requirements 1. Suppose Cityside Collection's processor charges a 3% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant. Suppose Cityside Collection's processor charges a 3% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant. 2. Data table 4 National Express credit card sales ValueCard debit card sales $ 11,900 11,000 X со
Consider the following transaction: On March 6, Fun Cards sells 560 card decks with a sales price of $10 per deck to Padma Singh. The cost to Fun Cards is $3 per deck Prepare a journal entry under each of the following conditions. Assume MoneyPlus charges a 3% fee for each sales transaction using its card. A. Payment is made using a credit, in-house account. B. Payment is made using a MoneyPlus credit card. If an amount box does not require an entry, leave it blank. Round your answers to two decimal places. A. Mar. 6 Mar. 6 B. Mar. 6 Mar. 6 To record sale of card decks To record cost of sale To record sale of card decks, 3% credit card fee To record cost of sale 38
Restaurants do a large volume of business by credit and debit cards. Suppose Chocolate Passion restaurant had these transactions on January 28: View the transactions. Read the requirements. ☑ Requirement 1. Suppose Chocolate Passion's processor charges a 6% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the credit sales net of the fee, first. Date Accounts and Explanation Transactions Debit Credit National Express credit card sales $ 10,700 ValueCard debit card sales 8,000 Print Done ☑ Requirements - Suppose Chocolate Passion's processor charges a 6% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant. 2. Suppose Chocolate Passion's processor charges a 6% fee and deposits sales using the gross method. Assume that on January 28, the company pays the fees assessed by the credit card…
Peter Restaurants accepts credit and debit cards as forms of payment. Assume Peter had 10,000 of credit and debit card sales on November 30, 2017. 9. Suppose Peter's processor charges a 1% fee and deposits sale net of the fee. Journalize the sale transaction for the restaurant. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) 10. Suppose Peter's processor charges a 1% fee andd deposits sales using the gross method. Journalize the sale transaction for the restaurant.
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Restaurants do a large volume of business by credit and debit cards. Suppose Summer, Sand, and Castles Resort restaurant had these transactions on January 28, 2016: Suppose Summer, Sand, and Castles Resort’s processor charges a 2% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant. Suppose Summer, Sand, and Castles Resort’s processor charges a 2% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant.

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