Consider the following transaction: On March 6, Fun Cardssells 590 card decks with a sales price of $10 per deck toPadma Singh. The cost to Fun Cards is $3 per deck.Prepare a journal entry under each of the followingconditions. Assume MoneyPlus charges a 3% fee for eachsales transaction using its card.А.Payment is made using a credit, in-houseасcount.В.Payment is made using a MoneyPlus credit card.If an amount box does not require an entry, leave it blank.Round your answers to two decimal places.88A. Mar. 6To record sale of card decksMar. 6To record cost of saleB. Mar. 6To record sale of card decks, 3% credit card fee88Mar. 6To record cost of saleII II 1II I0

Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

Answered: ade using a MoneyPlus credit card.

Business

Accounting

ade using a MoneyPlus credit card.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 3EA: Consider the following transaction: On March 6, Fun Cards sells 540 card decks with a sales price of...

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eBook Consider the following transaction: On March 6, Fun Cards sells 570 card decks with a sales price of $9 per deck to Padma Singh. The cost to Fun Cards is $3 per deck. Prepare a journal entry under each of the following conditions. Assume MoneyPlus charges a 3% fee for each sales transaction using its card. A. Payment is made using a credit, in-house account. B. Payment is made using a MoneyPlus credit card.