Journalize the Following Transactions for the Evans Company

question 229

Essay

Journalize the following transactions for the Evans Company. Assume the company uses a perpetual inventory system.
a) Sold merchandise for $645. The cost of merchandise sold was $375.
b) Sold merchandise for $432 and accepted VISA as the form of payment. The cost of merchandise sold was $195.
c) Sold merchandise on account for $670. The cost of merchandise sold was $438.
d) Paid credit card fees for the month of $85.

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Definitions:

Social Stress

The stress experienced by individuals due to pressures and conflicts arising from social relationships and societal expectations.

Mental Illness

A broad range of mental health conditions that affect mood, thinking, and behavior, often requiring medical or therapeutic treatment.

Chronic

Referring to a condition or disease that persists for a long time or is constantly recurring.

Administrative Costs

Expenses related to the management and operation of a business, organization, or healthcare system that do not directly contribute to the product or service being offered.