P. jameson co. sold $500 of merchandise on master card credit sales. the net cash receipts from the sale are immediately deposited

The journal entry would be as follows:Account                                  Debit           CreditCash                                       $480Sales Revenue                                           $500 Credit Card Expense                                 $20The Credit Card Expense corresponds to the 4% fee that Master Card charged P. Jameson Co. ($500 x 20% = $20)

A, Debit Cash of $180 and Credit sales of $180.Explanation:The above transaction is due to the fact that MacKenzie company is the company that made the sales. $10,000 for 180days promissory note @ 9%. Since the 9% is an annual rate and the loan is for 180day we calculate thus:10,000*9/2 = 10,000 * 4.5%=$ 10,450

39,000 Explanation:FOB shipping point. The goods cost Troy $26,130.

Balance Dr side, Cash column $2,850, Bank column $4,030Balance Cr side, cash column $2,850 Bank column $4,030Balance C/d Dr side Cash column $415, Balance C/d Cr side Bank column $2,255Balance B/d Dr side Bank column$2,255, Balance B/d Cr side Cash column $415Explanation:Double Column Cash Book March 1 Balance : Cash Dr $1,450, Bank Dr$ 1,500 March 2 Mark Bank Cr $120 March 4 John Bank Dr $400 March 5 Bank Dr $400 March 8 stationery Cash Cr$ 25 March 12 merchandise Cash Cr $1,800 March 15 Cash contra entry Bank Dr $850, Cash Cr$850 March 17 withdrawal contra entry Cash Dr $40, Bank Cr $40 March 19 merchandise Bank Cr $630 March 20 withdrawal contra entry Cash Dr $150, Bank Cr $150 March 22 Cash Bank Dr $880 March 25 Bank Bank Cr $270 March 26 Furniture Cash Cr $175 March 28 Office Rent Bank Cr $120 March 29 Sales Cash Dr $650 March 30. Bank contra entry Cash Dr $145, Cash Bank Cr $145 March 31 Salary Bank Cr $300 Balance Cash column Dr side $2,850, Bank column Dr side $4,030 Balance Cash column Cr side $2,850, Bank column Cr side $4,030 Balance carried down Cash column Dr side $415, Balance carried down Bank column Cr side $2,255Balance Brought down Bank column Dr side $2,255, Balance Brought down Cash column $415 Ledger entryCapital Account : Cr $ 2,950 ( cash balance + bank balance)Sales Account Cash Cr $650Purchase Account : stationery Dr $25,Merchandise Dr $1,800, Merchandise Dr $630 Total $2,455Bank Account Dr side Mark and co $120, Office Rent $120, Salary $300, Daniel Inc $270 Total $2,530,Balance carried down $1,720Bank Account Cr side John $400, Bank $400,Peter and co $880,Cash $850 Total $2,530Drawing Account : withdrawal Dr$40, withdrawal Dr $150, withdrawal Dr $145 Total $335Cash Account :withdrawal Cr $40, withdrawal Cr $150, withdrawal Cr $145Furniture Account : Cash $175

d. Debit Cash $172.80; debit Credit Card Expense $7.20 and credit Sales $180.Explanation:Credit card expense = 180*4% = $7.20Debit Accounts Receivable—Regional $172.80; debit Credit Card Expense $7.20 and credit Sales $180.

Debit Cash $172.80; debit Credit Card Expense $7.20 and credit Sales $180$10,450Explanation:The journal entry is as followsCash Dr $172.80  Credit card expenses Dr $7.20       ($180 × 4%)         To Sales revenue $180(Being the sale transaction is recorded)The total amount paid at maturity is  = Borrowed amount + Borrowed amount × rate of interest × number of days ÷ total number of days  = $10,000 + $10,000 × 9% × 180 days ÷ 360 days= $10,000 + $450= $10,450

Debit to Cash for 480 Debit to Credit Card Expense for 20 Credit to sales for 500 is the correct answer. Explanation:

Explanation:What is the journal entry for cash sales deposited to bank?The transaction can be treated in two ways depending on its condition1 if the cash proceeds received before deposited to the bankDebit Cash Account and credit sales AccountDebit Bank Account and Credit Cash Account2 if the proceeds is deposited directly to the bankDebit Bank Account and Credit Sales Accountthe 2nd method will hold since the money is directly paid to the Bank and the cash account is not in any means affectedIf u sale goods on cash & if u deposited cash on bank on the same day.. Then u can simply pass following journal entry:Bank A/c Dr.To sales A/cIf u deposit cash on another day of sale made then u have to pass to entries1 Sale made,Cash A/c DrTo sale A/c2 cash deposited into bank.Bank A/c Dr.To cash A/cTwo journal entries here -Journal 1 - Debit Undeposited Funds (or Cash Received if you have an Asset account set up under this kind of name)/Credit Income Account (whatever your Income account is in your chart) - this highlights that you have sold something and the buyer has paid you cash for it (which is currently “sitting in your pocket” so to speak).Journal 2 - Credit Undeposited Funds (or Cash Received)/Debit Bank Account - this highlights that you have taken the cash “out of your pocket” and put it in to your bank account.I hope this helps.What is the journal entry for cash sales of Rs. 15,000 which Rs. 12,000 was deposited in the bank the next day?If there is a transaction (cash sales and received a ₹1000 cheque for it), what will be the entry in the cash book? Why?I deposited Rs. 5000 in a bank. What is a journal entry?The entry for cash sales will be: Cash a/c Dr. and sales a/c Cr.The entry for cash deposit into bank will be: Bank a/c Dr. and Cash a/c Cr.First of all, you are talking about a regular transaction, not a journal entry. Journal entries are more like accruals, depreciation, corrections, etc.The entry is as follows:Debit Cash $500Credit Sales $500To record cash sales.There are 2 transactions hereOn selling/ receiving the cash:Dr. Cash account ledgerCr. Sales account ledger2. On banking the cash:Dr. Bank account ledgerCr. Cash account ledgerGenerally, cash would be debited, and if something is sold on credit, a receivable would be credited. Cash sales would debit cash, and credit sales.while it is dangerous in term of internal control receiving payment in cash. but the journal should beDb cashCR account receivablethen transfer to bankDb bankCr cash

Sales revenue for $500Explanation:The journal entry is shown below:Account receivable Dr $490Credit card expense Dr $10                      To Sales revenue $500(Being the sale transaction is recorded)The account receivable  is computed below:= Sales revenue - sales revenue × fee percentage given = $500 - $500 × 2% = $500 - $10= $490And, the credit card expense is = Sales revenue × fee percentage given =  $500 × 2% = $10

The correct answer is e. Debit cash $295.50; Credit card expense $4.50 and credit sales $300.