Journalize the following transactions for the Evans Company

Journalize the following transactions for the Evans Company.  Assume the company uses a perpetual inventory system. (17.5 pts)

11/17    Sold merchandise for $645.  The cost of merchandise sold was $375.

11/18    Sold merchandise for $432 and accepted VISA as the form of payment.  The cost of merchandise    sold was $195.

11/19    Sold merchandise on account for $670.  The cost of merchandise sold was $438.

11/30    Paid credit card fees for the month of $85.

Date

Account Titles

Debits

Credits

Date	Account Titles	Debits	Credits

Solution

Journal entries: Date Accounts title and explanations Debit $ Credit $ 17-Nov Cash Account Dr. 645      Sales revenue 645 Cost of Goods sold Account Dr. 375       Inventory 375 18-Nov Cash Account Dr. 432       Sales revenue 432 Cost of Goods sold Dr. 195       Inventory 195 19-Nov Accounts receivable Dr. 670       Sales revenue 670 Cost of Goods ssold Account Dr. 438       Inventory 438 30-Nov Credit Service expense Account Dr. 85       Cash account 85