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Z-Mart uses the perpetual inventory system and allows customers to use the Z-Mart store credit...

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Accounting

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Z-Mart uses the perpetual inventory system and allows customers to use the Z-Mart store credit card in charging purchases. Z-Mart assesses a per-month interest fee for any unpaid balance on its store credit card at each month- end. Apr. 30 2-Mart sold merchandise for $2, 800 (that had cost $1,550) and accepted the customer's z-Mart store credit card. May 31 2-Mart recorded $3 of interest earned from its store credit card as of this month-end. Prepare journal entries to record the above selected credit card transactions of Z-Mart. View transaction list Journal entry worksheet 3 Z-Mart sold merchandise for $2,800 and accepted the customer's Z-Mart store credit card. Note: Enter debits before credits Date General Journal Debit Credit Apr 30 Next >

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