Luna Company accepted credit cards in payment for $6,000 of services performed during July Year...
90.2K
Verified Solution
Question
Accounting
Luna Company accepted credit cards in payment for $ of services performed during July Year The credit card company charged Luna a percent service fee; it paid Luna as soon as it received the invoices. points Skipped Required a Prepare the general journal entry to record the service revenue. b Prepare the general journal entry for the collection of the receivable from the credit card company. c Based on this information alone, what is the amount of net income earned during the month of July? Complete this question by entering your answers in the tabs below. Required A References References Based on this information alone, what is the amount of net income earned during the month of July? Net income
Luna Company accepted credit cards in payment for $ of services performed during July Year The credit card company charged Luna a percent service fee; it paid Luna as soon as it received the invoices.
points
Skipped
Required
a Prepare the general journal entry to record the service revenue.
b Prepare the general journal entry for the collection of the receivable from the credit card company.
c Based on this information alone, what is the amount of net income earned during the month of July?
Complete this question by entering your answers in the tabs below.
Required A
References
References
Based on this information alone, what is the amount of net income earned during the month of July?
Net income
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.