Calculate the cost of merchandise


Journalize the following transactions for the Evans Company. Assume the company uses perpetual inventory system.

1) Sells merchandise for $645. Cost of merchandise sold $375.

2) Sells merchandise for $432 and accepts VISA as the form of payment. Cost of merchandise sold $195.

3) Sells merchandise on account for $670. Cost of merchandise sold for $438.

4) Credit card fees paid for the month is $85.

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Accounting Basics: Calculate the cost of merchandise
Reference No:- TGS0556880

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