Credit Card Sales Captain Paul's Marina sells boats and other water recreational vehicles (approximately three vehicles are sold each week). The following transactions occurred during the third week of May:

Credit Card Sales Captain Pauts Marina sells boats and other water recreational vehicles (approximately three vehicles are sold each weekj. The following transactions occurred during the third week of May May 15 Sold a boa traler to Sam and Myma Marson, who paid wih a personal check May 16 Sold a boat to Calmee Lako Patrol an accoune, with 2/10,n!20 credit terms for May 18 Sold weer scooter oe Kyle orson, totaling General Journal Desorigtion 660 440 cos 11,000 (57,150) 1,320 (5770 cos May 15 May 18 who used the Unieed Merchants Card to charge the cost of the wacer scoocer, Capn P maled the credi card cales clip to United Menchanes the same day. United Merchants wil sends check within seven days after deduenga 2 % fee. Soldshing boot to Micheel Ferguson, who used their Gress American Bank Card to pay for the boat. Capcain Pauts deposited the credt card sales slipthe same day and received immediate etditin the company's decking accoun The bonk cherged 2%fee. The boot wes sold for To record cash sales To record cos of goods sold May 15 May 19 May 19 fee Expense Credit Card Fee Expense o record cost of goods sold company's checking account 55,500 (53300 cost) May 16 To record credit cand sales May 20 Received payment from Calumet Lake Parolfors May 16 purchase May 21 Received a check from United Merchants for the May 18 transacton May 19 May 16 Prepare journal entries to record these transactions. Captain Paul's Marina uses the perpetual inventory system. To record cost of goods sold May 20 Cesh To necord cost of goods sold May 18 Credit Cand Fee Expense To record collection from Calumer Lake Paol May 21 To record oredit card sales To record collection from Uniced Merchans United M