Essay
Woods Co.uses a perpetual inventory system,and accepts the World Express bank credit card from its customers.World Express charges a 3.5% service fee and all credit card receipts deposited are credited to the company account on the day of deposit.On February 28,Woods sold $24,000 worth of merchandise to customers (that had cost $14,400)using the World Express charge card.Prepare the journal entries to record February 28 sales.
Correct Answer:
Verified
Correct Answer:
Verified
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