1) The following transactions were selected from November and December of Black Cat Corporation (BCC) in 2022 : - November 20: Sold 14 items to Customer A, who charged the $1,600 sales amount on his credit card. The credit card charges BCC a 2% credit card fee. Cost of goods totalled $1,200. - November 25: Sold 15 items of merchandise to Customer B for $9,000, terms 2/10,n/30. Cost of merchandise sold was $6,000. - November 28: Sold 10 identical items of merchandise to Customer C for $8,500; terms 2/10,n/30. Items sold cost $7,000. - November 30: Customer C returned one of the items purchased on the 28th; the item was defective and credit was given to the customer. - December 6: Customer C paid the account balance in full. - December 30: Customer B paid in full the amount due for the purchase on November 25,2022. Required (27 marks): 1) Prepare the journal entries for the transactions (you can assume the organization uses a perpetual inventory system). 2) Assuming the sales discounts and credit card discounts are treated as contra revenues, compute net sales for the two months ended December 30,2022. 1) The following transactions were selected from November and December of Black Cat Corporation (BCC) in 2022 : - November 20: Sold 14 items to Customer A, who charged the $1,600 sales amount on his credit card. The credit card charges BCC a 2% credit card fee. Cost of goods totalled $1,200. - November 25: Sold 15 items of merchandise to Customer B for $9,000, terms 2/10,n/30. Cost of merchandise sold was $6,000. - November 28: Sold 10 identical items of merchandise to Customer C for $8,500; terms 2/10,n/30. Items sold cost $7,000. - November 30: Customer C returned one of the items purchased on the 28th; the item was defective and credit was given to the customer. - December 6: Customer C paid the account balance in full. - December 30: Customer B paid in full the amount due for the purchase on November 25,2022. Required (27 marks): 1) Prepare the journal entries for the transactions (you can assume the organization uses a perpetual inventory system). 2) Assuming the sales discounts and credit card discounts are treated as contra revenues, compute net sales for the two months ended December 30,2022