Journalize the following transactions for the Evans Company. Assume the company uses a perpetual inventory system. a. Sold merchandise for $645 cash. The cost of goods sold was $375.
b. Sold merchandise for $432 and accepted VISA as the form of payment. The cost of goods sold was $195.
c. Sold merchandise on account for $670. The cost of goods sold was $438.
d. Paid credit card fees for the month of $85.If an amount box does not require an entry, leave it blank.

Evans Company

General Journal

Part a.

Debit : Cash $645

Debit : Cost of goods sold $375

Credit : Sales Revenue $645

Credit : Merchandise $375

Part b.

Debit : Cash $432

Debit : Cost of goods sold $195

Credit : Sales Revenue $432

Credit : Merchandise $195

Part c.

Debit : Accounts Receivable $670

Debit : Cost of goods sold $438

Credit : Sales Revenue $670

Credit : Merchandise $438

Part d.

Debit : Credit Card fees $85

Credit : Cash $85

Explanation:

The Perpetual inventory system calculates the cost of sale and inventory balance on each and every sale made hence the journals above.

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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answer(b) revenue account which increases;