Credit Card Sales The Bedroom Store accepts cash, personal checks, and two credit cards when customers buy merchandise. With the Great American Bank Card, The Bedroom Store receives an immediate deposit in its checking account when credit card sales slips are deposited at the bank. The bank charges a 4% fee. With the United Merchants Card, The Bedroom Store mails the credit card sales slips to United Merchants' regional processing center each day. United Merchants accumulates these slips for three days and then mails a check to The Bedroom Store, after deducting a 3% fee. Prepare journal entries to record the following: a. Sales for March 15 were as follows: Cash and checks $2,050 Great American Bank Card (Deposited at the end of the day) 1,300 United Merchants Card (Mailed at the end of the day) 900 $4,250 b. Received a check from United Merchants on March 20 for: 3,178 a. General Journal Description Date Mar.15 Cash Accounts Receivable - United Merchants Credit Card Fee Expense Sales Revenue To record cash and credit card sales. b. Date Mar.20 Cash General Journal Description Debit Credit $ * $ 0 0 x 0 0 x 0 0 x Debit Credit $ 0 x $ 0 0 x Accounts Receivable - United Merchants To record receipt of check from United Merchants.