debit:

what is the account name ? & dollar amount ?

credit:

what is the account name ? & dollar amount ?

QUICK STUDY QS 7.1 Credit card sales Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system) 1. Sold $20,000 of merchandise, which cost $15,000, on Mastercard credit cards. Mastercard charges a 5% fee. 2. Sold $5,000 of merchandise, which cost $3,000, on an assortment of bank credit cards. These cards charge a 4% fee