How do I solve this

Problem $7\mathrm{.}6$A $($Algo$)$ Recording sales made for cash, on open account, and with credit cards. LO $7-1,7-2$

points

The Arlstocrat Glft Shop sells cards, supplies, and varlous hollday greeting cards. Sales to retall customers are subject to an $8$ percent

sales tax. The firm sells its merchandise for cash, to customers using bank credit cards, such as MasterCard and Visa; and to

customers using American Express. The bank credit cards charge a $2$ percent fee. American Express charges a $3$ percent fee. The

Arlstocrat Gift Shop also grants trade discounts to certain wholesale customers who place large orders. These orders are not sublect

to sales zax. During February $20$x$1,$ The Arlstocrat Gift Shop engaged in the following transactlons:

DATE

February $1,20$XI

February $15,20$X$1$

February $15,20$x$1$

February $16,20$x$1$

February $16,201$

February $17,201$

February $20,2a$

February $27,20$x$1$

February $28,201$

F$$bruary $28,261$

February $28,201$

TRANSACTIONS

Sold crystal goods to Beautiful kitchens, wholesale customer: The list price is $$4,200,$ with a $20$ percent trade

discount, This sale is not subject to sales tax. Issued Invoice $5950$ with terms of $112.$

Recorded cash sales for the period from February I to february $15$ of $$8,700$ plus sales tax of $$696.$

Recorded sales for the period from February $1$ to February $15$ to customers using bank credit cards of $$12,200$ plus

sales tax of $$976.($Record the $2$ percent credit card expense at this time.$)$

Received a check from Beautiful kitchens in payment of Invoice $5950$ dated February $1.$

sold merchandise to customers using American Express for $$8,200$ plus sales tax of $$656.$

sold a set of marble statues to Lovely Bedrooms, a wholesale customer. The list price is $$8,200,$ with a $25$

percent trade discount. This sale is not subject to sales tax. Issued Invoice $5951$ with terms of m$/15.$

Received payaent from Americar Express for the amount billed on February $16,$ less a $3$ pefcent credit card

expense.

Received a check from Lovely Eedroomis in payment of Invaice $5951$ dated February $17.$

Recorded cash sales for the periad from February $16$ to february $28$ of $$7,350$ plus sales tax of $$588.$

Recorded sales for the period from february $16$ to february $28$ to customers using bank credit cards of $$2,80$

plus sales tax of $$1,600.($Record the $2$ percent credit card expense at this time.$)$

sold merchandise to customers using Amemican Express for $$9,408$ plus sales tax of $$752.$

Required:

Record the transactions in a general journaf.

Post the entrles from the general joumal to the approprlate accounts in the general ledger.

GENERAL LEDGER ACCOUNTS

$101$ Cash, $$22,430$ Debit

$121$ Accounts Receivable

$481$ Sales

$521$ credit card Expense

$222$ Sales Tax payable

Analyze:

What was the total credit card expense Incurred in February?

Complete this question by entering your answers in the tabs below.

Record the transactions in a general journal.

Note: Round your intermediate calculations and final answers to $2$ decimal places.