Question

Journalize the following transactions for the Evans Company.  Assume the company uses a perpetual inventory system. (17.5 pts)

11/17    Sold merchandise for $645.  The cost of merchandise sold was $375.

11/18    Sold merchandise for $432 and accepted VISA as the form of payment.  The cost of merchandise    sold was $195.

11/19    Sold merchandise on account for $670.  The cost of merchandise sold was $438.

11/30    Paid credit card fees for the month of $85.

Date	Account Titles	Debits	Credits

Answer 1

Journal entries:
Date	Accounts title and explanations				Debit $	Credit $
17-Nov	Cash Account Dr.				645
	Sales revenue					645
	Cost of Goods sold Account Dr.				375
	Inventory					375
18-Nov	Cash Account Dr.				432
	Sales revenue					432
	Cost of Goods sold Dr.				195
	Inventory					195
19-Nov	Accounts receivable Dr.				670
	Sales revenue					670
	Cost of Goods ssold Account Dr.				438
	Inventory					438
30-Nov	Credit Service expense Account Dr.				85
	Cash account					85