document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=669275>Question 669275</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Presented below are selected transactions of Menge Company. Menge sells in large quantities to other companies and also sells its product in a small retail outlet.\r<BR>\n" );
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document.write( "March 1	Sold merchandise on account to Lynda Company for $5,000, terms 4/10,/30.<BR>\n" );
document.write( "March 3	Lynda Company returned merchandise worth $400 to Menge.<BR>\n" );
document.write( "March 9 Menge collected the amount due from Lynda Company from the March 1 sale.<BR>\n" );
document.write( "March 15 Menge sold merchandise for $200 in its retail outlet. The customer used his Menge credit card.<BR>\n" );
document.write( "March 31 Menge added 1% monthly interest to the customer’s credit card balance.\r<BR>\n" );
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document.write( "Prepare journal entries for the transactions above.\r<BR>\n" );
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document.write( "I Just need journal entry for March 9 and 31. And can you please show how you got the answer. Thank you so much..... </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #416342 by </B><A HREF=/tutors/aboutme.mpl?userid=MathTherapy><B>MathTherapy(10552)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=MathTherapy><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=MathTherapy><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=416342\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <BR>\n" );
document.write( "This is a math help website, not an accounting help website.\r<BR>\n" );
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document.write( "Anyway, for March 9, Lynda Co. will get a 4% discount, since Lynda Co paid within the discount period (10 days). Therefore,\r<BR>\n" );
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document.write( "Dr._____Cash: 4,800<BR>\n" );
document.write( "Dr._____Sales Returns, Discounts and Allowances (or whichever account sales discounts are debited to): 200<BR>\n" );
document.write( "Cr._____Lynda Co.: 5,000\r<BR>\n" );
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document.write( "Since it only had one credit card customer who/that owes $200 (March 15 credit sale), monthly interest will be $2 (1% of $200). The March 31 journal entry will be:\r<BR>\n" );
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document.write( "Dr._______Accounts Receivable - Customer’s Credit Card Account: $2<BR>\n" );
document.write( "Cr.______Interest Income: $2\r<BR>\n" );
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document.write( "Send comments and “thank-yous” to “D” at MathMadEzy@aol.com </SPAN>\n" );
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