Journalize all entries required for Quick Running Shoes

Last updated: 4/10/2023

Journalize all entries required for Quick Running Shoes Record debits first then credits Select the explanation on the last line of the journal entry table May 15 2024 Recorded Explorer credit card sales of 92 000 Processor charges a 2 5 fee Explorer charges the fee at the end of the month therefore Quick uses the gross method credit card sales Ignore Cost of Goods Sold Accounts and Explanation Date M 2024 May 15 More info 2024 May 1 May 15 May 31 Debit Credit Recorded Credit Express credit card sales of 145 000 net of processor fee of 3 Ignore Cost of Goods Sold Recorded Explorer credit card sales of 92 000 Processor charges a 2 5 fee Explorer charges the fee at the end of the month therefore Quick uses the gross method for these credit card sales Ignore Cost of Goods Sold Explorer collected the fees for the month of May Assume the May 15 X prer credit card sale