Exercise $7-2($Algo$)$ Accounting for credit card sales LO C$1$

Levine Company uses the perpetual inventory system.

April $8$ Sold merchandise for $$7,000($that had cost $$5,173)$ and accepted the customer's Suntrust Bank Card. Suntrust charges a $4\%$ fee.

April $12$ Sold merchandise for $$7,800($that had cost $$5,054)$ and accepted the customer's Continental Card. Continental charges a $2\mathrm{.}5\%$ fee.

Prepare journal entries to record the above credit card transactions of Levine Company.

Note: Round your answers to the nearest whole dollar amount.

Journal entry worksheet

$1$

$2$

$3$

$4$

Sold merchandise for $$7,000$ and accepted the customer's Suntrust Bank Card. Suntrust charges a $4\%$ fee.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$April $08,,,],[,,,],[,,,],[,,,],[,,,]]$