journal explanations. Every line on a journal page is 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 Sold merchandise for cash, $27.700. The cost of the merchandise sold was $14,681 Sold merchandise on account, $250,000. The cost of the merchandise soid was $132.500 Sold merchandise to customers who used MasterCard and VISA, 5161,700. The cost of the merchandise sold was $85.701 12 17 Sold merchandise to customers who used American Express. $72,000. The cost of the merchandise sold was 538,160 31 Paid $8,610, to National Cleaning House Credit Co for service fees for processing MasterCard, VISA, and American Express sales Instructions Chart of Accounts Joulal Instructions Journal ACCOUNTING EQUAT JOURNAL DATE DESCRIPTION POSTRE DEBIT CHENT ASSETS LIABILITIES 1 Mar. 1 2 1