Instructions Accessories Unlimited allows a few customers to make purchases on credit. Other customers may use wither of two credit cards. Express Bank deducts a 3% service charge for sales on its credit card but credits the chequing accounts of its commercial customers immediately when credit card receipts are deposited. Accessories Unlimited deposits the Express Bank credit card receipts at the close of each business day. When customers use UniCharge credit cares, Accessories Unlimited accumulates the receipts for several days before submitting them to UniCharge for payment. UniCharge deducts a 2% service charge and usually pays within one week of being billed. Accessories Unlimited completed the following transactions during May (assume a perpetual inventory system): May 4 Sold merchandise costing $214 on credit to Anne Bismarck for $565. The terms of all credit sales are 2/15 n/30. 5 8 Sold merchandise costing $2,250 for $5,934 to customers who used their Express Bank credit cards. Sold merchandise costing $1,800 for $4,876 to customers who used their UniCharge cards. Sold merchandise costing $1,220 for $3,213 to customers 10 who used their UniCharge credit cards 17 The UniCharge card receipts accumulated since May 5 were submitted to the credit card company for payment. 18 Required: Received the amount due from UniCharge Received Bismarck's cheque paying for the purchase of May 4 Prepare journal entries to record the preceding transactions (assume a perpetual inventory system).