Donaldson Company Has the Following Accounts in Its General Ledger

question 102

Essay

Donaldson 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 $30,000 of accounts receivable to Fast Factors, Inc. who assesses a 3% finance charge.
25 Made sales of $900 on Visa credit cards. The credit card service charge is 2%.
Instructions
Journalize the transactions.

---

Definitions:

Identity

The sense of self, shaped by personal choices, social interactions, and cultural environment.

Autonomy

The capacity to make an informed, uncoerced decision or the self-governance of an individual or entity.

Confusion

A state of being unable to think clearly or understand what is happening or what is expected.

Initiative

The ability to assess and initiate things independently, often seen as a leadership quality.