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Peru Furniture Mart, Inc., sold $76,000 of furniture in May to customers who used their American Express credit cards. Such sales are subject to a 4% discount by American Express (a nonbank credit card).

a. Prepare jounral entries to record the sales and the subsequent receipt of cash from the credit card company

b. do the same as requirement a, but assume the credit cards used were VISA cards (a bank credit card)