40 41 Problem 2 Sales on Credit Cards 4 journal entries 10 points 42 43 Prepare the necessary journal entries. 44 45 15-Jan $ 2,000 46 ABC Corp sold merchandise on its store credit card for The cost of the merchandise sold was $ 1,200 The company uses a perpetual inventory system. 47 48 49 28-Feb ABC Corp, recorded interest on past due store credit card accounts of 200 50 51 52 5-Mar 53 A restaurant is the site for a large company party. The bill totals $4,800 and is charged by the company on a Mastercard Assume a 4% service fee is charged by Mastercard Record the journal entry that the restaurant would make to record this transaction. 54 55 56 57 Date Account Title Debit Credit 58 59