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Instructions Journal the entries for the following transactions. Refer to the Chart of Accounts for exact wording of accounties. Note: The company uses a clearinghouse

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Instructions Journal the entries for the following transactions. Refer to the Chart of Accounts for exact wording of accounties. Note: The company uses a clearinghouse to take care of all tax www as non bunk credit cards used by its customers.) Bold merchandise for cash, 825,000. The cost of the goods sold wa $17,800 a. Sold merchandise on account. $98.000. The cost of the goods sold was $68,000 c Sold merchandise to customers who used MasterCard and VISA $475,000. The cost of the goods sold was $280,000. D. Sold merchandise to customers who used American Express, $63,000. The cost of the goods sold was $39.000 E. Received an invoice from National Clearing House Credit Co. for $13,450, representing a service fee paid for processing MasterCard, VISA, and American Express sales, Shart of Accounts ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 610 Rent Revenue 125 Notes Receivable 130 Inventory EXPENSES 131 Estimated Returns Inventory 510 Cost of Goods Sold 140 Office Supplies 521 Delivery Expense 141 Store Supplies 142 Prepaid Insurance 180 Land 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 526 Salaries Expense 531 Rent Expense 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 533 Insurance Expense 195 Accumulated Depreciation Office Equipment 534 Store Supplies Expense 535 Office Supplies Expense LIABILITIES 536 Credit Card Expense 210 Accounts Payable 539 Miscellaneous Expense DA EXPENSES 510 Cost of Goods Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 526 Salaries Expense 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 216 Salaries Payable 218 Sales Tax Payable 219 Customer Refunds Payable 220 Unearned Rent 221 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends

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