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Vetinthemaking21
Vetinthemaking21
02.12.2019 • 
Business

Mayfair co. completed the following transactions and uses a perpetual inventory system. june 4 sold $700 of merchandise on credit (that had cost $350) to natara morris, terms n/15. 5 sold $7,800 of merchandise (that had cost $3,900) to customers who used their zisa cards. zisa charges a 3.0% fee. 6 sold $5,602 of merchandise (that had cost $2,801) to customers who used their access cards. access charges a 2.0% fee. 8 sold $4,590 of merchandise (that had cost $2,295) to customers who used their access cards. access charges a 2.0% fee. 13 wrote off the account of abigail mckee against the allowance for doubtful accounts. the $425 balance in mckee’s account was from a credit sale last year. 18 received morris’s check in full payment for the june 4 purchase.

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