Sales-related transactions, including the use of credit cards Obj. 2 Journalize the entries for the following transactions:

a. Sold merchandise for cash, $25,000. The cost of the goods sold was $17,500.

b. Sold merchandise on account, $98,000. The cost of the goods sold was $58,800.

c. Sold merchandise to customers who used MasterCard and VISA, $475,000. The cost of the goods sold was $280,000.

d. Sold merchandise to customers who used American Express, $63,000. The cost of the goods sold was $39,000.

e. Received an invoice from National Clearing House Credit Co. for $13,450 representing a service fee paid for processing MasterCard, VISA, and American Express sales.

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