Journalize the entries for the following clearinghouse to take care of all bank as well as non-bank credit cards used by its customers ) Refer to the Chart of Accounts for exact wording of account titles. (Note: The company uses a Mar 1 Sold merchandise for cash, $116,300. The cost of the merchandise sold was $72,000. 10 Sold merchandise on account, $755,000. The cost of the merchandise sold was $400,000 12 Sold merchandise to customers who used MasterCard and VISA, $1,950,000. The cost of the merchandise sold was $1,250,000 Sold merchandise to customers who used American Express, $330,000. The cost of the merchandise sold was $230,000 17 31 Paid $81,500 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA and American Express sales