Instruction Journalize the entries for the following transactions. Refer to the chart of accounts for the exact wording or the account titles. CNOW journals do not use lines for journal explanations. Every Ane on a journal page la used for debitor credit entries. CNOW Journals will automatically indent a credit entry when a credit amount is entered (Nore: the company uses a clearinghouse to take care of all bank as well as non-bank credit cards used by its customers) Mar 1 10 12 Sold merchandise for cash, $27.700 The cost of the marchandise sold was $14,681, Sold merchandise on account, $250,000 The cost of the merchandise sold was $132,500 Sold mercharlase to customers who used MasterCard and VISA S161.700. The cost of the merchandise sold was $85701 Sold merchandise to customers who used American Express, $72,000. The cost of the merchandise sold was $38, 160 Pald 58,610, to National Clearing House Credit Co for service fees for processing MasterCard, VISA, and American Express sales 17 31 ournal Instructions Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 610 Rent Revenue 125 Notes Receivable 130 Merchandise Inventory EXPENSES 131 Estimated Returns Inventory 510 Cost of Merchandise Sold 140 Office Supplies 141 Store Supplies 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 142 Prepaid Insurance 180 Land Instructions Chart of Accounts 192 Store Equipment 526 Salaries Expense 193 Accumulated Depreciation-Store Equipment 531 Rent Expense 533 Insurance Expense 194 Office Equipment 195 Accumulated Depreciation Office Equipment 534 Store Supplies Expense 535 Ofis Supplies Expense 536 Credit Card Expense LIABILITIES 210 Accounts Payable 539 Miscellaneous Expense 216 Salaries Payable 710 Interest Expense 218 Sales Tax Payable 219 Customers Refunds Payable 220 Unearned Rent 221 Notes Payable ERITY Instructions Chart of Accounts 539 Miscellaneous Expense 210 Accounts Payable 216 Salaries Payable 710 Interest Expense 218 Sales Tax Payable 219 Customers Refunds Payable 220 Unearned Rent 221 Notes Payable EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary