Z-mart uses the perpetual inventory system and has its own credit card. z-mart charges a per-month interest fee for any unpaid balance on its store credit card at each month-end. apr. 30 z-mart sold merchandise for $2,900 (that had cost $1,600) and accepted the customer’s z-mart store credit card. may 31 z-mart recorded $4 of interest earned from its store credit card as of this month-end. prepare journal entries to record the above credit card transactions of z-mart.

                                                            Debit                Credit

Accounts Receivable                           2,900  

Sales                                                                               2,900

Cost of goods sold                                 1,600

Merchandise                                                                    1,600

Accounts Receivable                               4

Interest revenue                                                                     4                                                                              

Explanation:

if it is for a job, then you should learn everything you can about the job, like what does it involve, what qualification is required and how you are the right person for that job. dress appropriately for the interview. get plenty of rest the night before. good luck!

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