Business, 14.11.2019 22:31, robtop

Presented below are two independent situations.

on april 2, jennifer elston uses her jcpenney company credit card to purchase merchandise from a jcpenney store for $1,100. on may 1, elston is billed for the $1,100 amount due. elston pays $600 on the balance due on may 3. on june 1, elston receives a bill for the amount due, including interest at 1.0% per month on the unpaid balance as of may 3. prepare the entries on jcpenney co.’s books related to the transactions that occurred on april 2, may 3, and june 1. (credit account titles are automatically indented when amount is entered. do not indent manually.)

date / account titles and explanation / debit / credit

apr. 2

may 3

june 1

on july 4, spangler’s restaurant accepts a visa card for a $200 dinner bill. visa charges a 2% service fee. prepare the entry on spangler’s books related to this transaction. (credit account titles are automatically indented when amount is entered. do not indent manually.)

date / account titles and explanation / debit /credit

july 4

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Presented below are two independent situations.

on april 2, jennifer elston uses her jc...