1.Select the journal entry for each transaction by placing an "X" mark on the correct line, Company XYZ records credit card sales of $100 with a 4% fee from a 3rd party credit card company, where cash is received immediately on deposit. The cost of merchandise is $50. Debit Cash $100; Credit Credit Card Expense $4 and Credit Sales $96 Debit Cost of Goods Sold $50; Credit Merchandise Inventory $50 Debit Cash $96 and Debit Credit Card Expense $4; Credit Sales $100 Debit Cost of Goods Sold $50; Credit Merchandise Inventory $50