Newton Company Has the Following Accounts in Its General Ledger

question 119

Essay

Newton Company has the following accounts in its general ledger at July 31: Accounts Receivable $40,000 and Allowance for Doubtful Accounts $2,500. During August, the following transactions occurred.
Oct. 15 Sold $15,000 of accounts receivable to Fast Factors, Inc. who assesses a 3% finance charge.
25 Made sales of $800 on VISA credit cards. The credit card service charge is 2%.
Instructions
Journalize the transactions.

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Definitions:

Visual Centers

Regions of the brain, particularly within the occipital lobe, responsible for processing visual information.

Occipital Lobe

The posterior part of the brain, responsible for processing visual information and is integral to the ability to see and recognize.

Primary Visual Cortex

The region of the brain located in the occipital lobe that processes visual information received from the eyes.

Occipital Lobe

The rearmost lobe in each cerebral hemisphere of the brain, primarily responsible for processing visual information.