Homework SourseRecord the following transactions of Lisas Fashion Boutique
Record the following transactions of Lisa’s Fashion Boutique in a general journal. Lisa\'s Fashion Boutique operates in a state with 8% sales tax. (Round your intermediate calculations and final answers to 2 decimal places):
| DATE | TRANSACTIONS | |
| 2019 | ||
| Feb. | 2 | Sold merchandise for cash totaling $3,800 to customers using bank credit cards. Record the 2 percent discount on credit card sales at time of sale. |
| 15 | Sold merchandise totaling $2,100 to customers using American Express. | |
| 20 | Received amount due from American Express, less their 3 percent discount, for sales made by customers using American Express on February 15. |
Solution
Journal Entries in the Books of Lisa’s Fashion Boutique
Date.........Particulars...........................................................................Debit ($).......Credit($)
02 Feb.....Bank Account..................................................................................4,021.92
...............Sales.........................................................................................................................3,724.00
...............Sales Tax....................................................................................................................297.92
15 Feb.....Customer............................................................................................2,168.00
...............Sales...........................................................................................................................2,100.00
...............Sales Tax......................................................................................................................168.00
20 Feb.....Bank...................................................................................................2,102.96
...............Discount Given.......................................................................................65.04
...............Customer.....................................................................................................................2168.00
