Chat with us, powered by LiveChat 1, A Company sells goods to customers who use Worl | Writedemy

1, A Company sells goods to customers who use Worl

1, A Company sells goods to customers who use Worl

1, A Company sells goods to customers who use Worldwide Express non-bank credit cards Credit card sales on July 15, 2016 amounted to $25,000 and were subject to a 35% credit card company collection fee Alpha Company collected payment from Worldwide Express on July 21 Use this information to prepare the General Journal entries (without explanation) for the July 15 sales & the July 21 collections2, On July 1, 2016, A Company purchased for $78,000, equipment having a service life of eight years and an estimated residual value of $6,000 Alpha has recorded depreciation of the equipment using the double-declining balance method On December 31, 2019, before making any annual adjusting entries, the equipment was sold for $20,000 Use this information for a General Journal entry required to record the events for December 31, 20193, On July 1, 2016, A Company purchased for $72,000, equipment having a service life of eight years and an estimated residual value of $6,000 Alpha has recorded depreciation of the equipment using the double-declining balance method On December 31, 2018, before making any annual adjusting entries, the equipment was exchanged for new machinery having a fair value of $32,500 The transaction has commercial substance Use this information for a General Journal entry required to record the events for December 31, 2018

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