Exerclse $9-2($Statlc$)$ Accounting for credit card sales LO C$1$

Levine Company uses the perpetual inventory system.

April $8$ Sold merchandise for $$8,40($that had cost $$6,60)$ and accepted the customer's Suntrust Bank Card. Suntrust charges a $4\%$

fee.

April $12$ Sold merchandise for $$5,600($that had cost $$3,500)$ 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.

Journal entry worksheet

Sold merchandise for $$8,400$ and accepted the customer's Suntrust Bank Card.

Suntrust charges a $4\%$ fee.

Note: Enter debits before credits.