Journalize the entries for the following transactions: If an amount box does not require an entry, leave it blank. a. Sold merchandise for cash, $116,300. The cost of the merchandise sold was $72,000. (Record the sale first.) Cash 116,300 Sales 0 Cost of Merchandise Sold 72.000 Merchandise Inventory 0 Feedback Check My Won (na) Record transactions from the seners perspective Keep in mind that two entries are required for each transaction (1) for the swe and payment metnod (cash or on account) and (2) for the cost of the merchandise Hold and Inventory Remember that credit card transactions are recorded as cash sales b. Sold merchandise on account, $755,000. The cost of the merchandise sold was $400,000. (Record the sale first.) Accounts Receivable Sales Cost of Merchandise Sold Merchandise Inventory c. Sold merchandise to customers who used MasterCard and VISA, $1,950,000. The cost of the merchandise sold was $1,250,000. (Record the sale first.) Cash Sales Cost of Merchandise Sold Merchandise Inventory Feedback Check My Wor (a-d) Record transactions from the seller's perspective. Keep in mind that two entries are required for each transaction: (1) for the sale and payment method (cash or on account) and (2) for the cost of the merchandise sold and Inventory. Remember that credit card transactions are recorded as cash sales d. Sold merchandise to customers who used American Express, $330,000. The cost of the merchandise sold was $230,000. (Record the sale first.) Cash Sales Cost of Merchandise Sold Merchandise Inventory e. Paid $81,500 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA, and American Express sales. Credit Card Expense Cash Feedback Check My Work e. Record the service fee as an expense