Credit Card Sales The Tin Roof accepts cash, personal checks, and two credit cards when customers buy merchandise. With the Great American Bank Card, The Tin Roof receives an immediate deposit in its checking account when credit card sales slips are deposited at the bank. The bank charges a two percent fee. With the United Merchants Card, The Tin Roof 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 Tin Roof, after deducting a two percent fee. Prepare journal entries to record the following:

a.	Sales for March 15 were as follows:
	Cash and checks	$1,700
	Great American Bank Card (Deposited at the end of the day)	2,500
	United Merchants Card (Mailed at the end of the day)	1,400
		$5,600
b.	Received a check for $3,906 from United Merchants on March 20.

a.

General Journal
Date	Description	Debit	Credit
Mar.15	Cash	Answer	Answer
		Answer	Answer
		Answer	Answer
		Answer	Answer
	To record cash and credit card sales.

b.

General Journal
Date	Description	Debit	Credit
Mar.20		Answer	Answer
		Answer	Answer
	To record receipt of check from United Merchants.