Exercise 7-10 Credit card and debit card transactions LO5 costing $10,500 was sold to customers for $15.800 on January 17, terms 2/10, n/30. Sales totalling $296,000 On January 15, Tundra Co. sold merchandise to customers for cash of $42.000 (cost $28,500). Merchandise (cost $198,000) were recorded on January 20 to customers using MasterCard; assume the credit card charges a 2 fee. On January 25, sales of $72,000 (cost $48,200) were made to debit card customers. The bank charges Tundra a flat fee of 0.5% on all debit card transactions. Required Prepare journal entries for each of the transactions described (assume a perpetual inventory system). Analysis Component: Identify the advantages and disadvantages of each type of sale: cash sale, credit sale, credit card sale, or debit card sale. Explain why Tundra would likely accept all these types of sales