Exercise 8-2 1. On January 10, Molr Amise uses her Waterway Industries credit ar

Question

Exercise 8-2 1. On January 10, Molr Amise uses her Waterway Industries credit ard to purchase merchandse fom amise uses her Waterway Industries credit card to purchase merchandise from Waterway Industries for $1,90. On February 10, Molly sbilled for the anay io ol 2. On February 12, Molly pays $1,000 on the balance due. 3. on March 10 Molly is blied for the amount due, including interest at 2% per month on the unpaid balance as of February 12. Prepare the entries on Waterway Industries's books related to the transactions that occurred on January 10, February 12, and March 10. (omit cost of goods sold entries.) (Round answers to 0 decimal places, e.g. 825. Credit account titles are automatically indented when amount is entered. Do not indent manually,) No. Date Account Titles and Explanation Debit Credit 2. 3. OF ACCOUNTS

Explanation / Answer

date account titles Debit Credit 10-Jan accounts receivable 1900 sales revenue 1900 12-Feb cash 1000 accounts receivable 1000 10-Mar accounts receivable 18 interest revenue 18 interest= 2%*900 = 18

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