Journalize the entries for the following transactions If an amount box does not require an entry, leave it blank Question Content Area a Sold merchandise for cash, $116,300 The cost of the merchandise sold was $72,000 (Record the sale first ) blank Accounts ReceivableCashCredit Card ExpenseSalesSales Discounts Select Select Accounts ReceivableCashCost of Merchandise SoldSalesSales Discounts Select Select blank Accounts ReceivableCost of Merchandise SoldCashMerchandise InventorySales Select Select Accounts ReceivableCashCost of Merchandise SoldMerchandise InventorySales Discounts Select Select Question Content Area b Sold merchandise on account, $755,000 The cost of the merchandise sold was $400,000 (Record the sale first ) blank Accounts ReceivableAccounts PayableMerchandise InventorySalesSales Discounts Select Select Accounts ReceivableCashCost of Merchandise SoldSalesSales Discounts Select Select blank Accounts PayableCashCost of Merchandise SoldSalesMerchandise Inventory Select Select Accounts ReceivableCashCost of Merchandise SoldSales DiscountsMerchandise Inventory Select Select Question Content Area 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 ) blank Accounts ReceivableAccounts PayableCashCredit Card ExpenseSales Select Select Accounts PayableCashCredit Card ExpenseSalesSales Discounts Select Select blank Accounts PayableAccounts ReceivableCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory Select Select Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory Select Select Question Content Area d Sold merchandise to customers who used American Express, $330,000 The cost of the merchandise sold was $230,000 (Record the sale first ) blank Accounts ReceivableCashCredit Card ExpenseMerchandise InventorySales Select Select Accounts ReceivableCashCost of Merchandise SoldSalesSales Discounts Select Select blank Accounts ReceivableCost of Merchandise SoldCredit Card ExpenseMerchandise InventorySales Select Select CashCost of Merchandise SoldCredit Card ExpenseMerchandise InventorySales Returns and Allowances Select Select Question Content Area e Paid $81,500 to National Clearing House Credit Co for service fees for processing MasterCard, VISA, and American Express sales blank Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory Select Select Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory Select Select

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Journalize the entries for the following transactions: If an amount box does not require an entry, leave it blank.

Question Content Area

a. Sold merchandise for cash, $116,300. The cost of the merchandise sold was $72,000. (Record the sale first.)

blank	Accounts ReceivableCashCredit Card ExpenseSalesSales Discounts	- Select -	- Select -
	Accounts ReceivableCashCost of Merchandise SoldSalesSales Discounts	- Select -	- Select -
blank	Accounts ReceivableCost of Merchandise SoldCashMerchandise InventorySales	- Select -	- Select -
	Accounts ReceivableCashCost of Merchandise SoldMerchandise InventorySales Discounts	- Select -	- Select -

Question Content Area

b. Sold merchandise on account, $755,000. The cost of the merchandise sold was $400,000. (Record the sale first.)

blank	Accounts ReceivableAccounts PayableMerchandise InventorySalesSales Discounts	- Select -	- Select -
	Accounts ReceivableCashCost of Merchandise SoldSalesSales Discounts	- Select -	- Select -
blank	Accounts PayableCashCost of Merchandise SoldSalesMerchandise Inventory	- Select -	- Select -
	Accounts ReceivableCashCost of Merchandise SoldSales DiscountsMerchandise Inventory	- Select -	- Select -

Question Content Area

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.)

blank	Accounts ReceivableAccounts PayableCashCredit Card ExpenseSales	- Select -	- Select -
	Accounts PayableCashCredit Card ExpenseSalesSales Discounts	- Select -	- Select -
blank	Accounts PayableAccounts ReceivableCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory	- Select -	- Select -
	Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory	- Select -	- Select -

Question Content Area

d. Sold merchandise to customers who used American Express, $330,000. The cost of the merchandise sold was $230,000. (Record the sale first.)

blank	Accounts ReceivableCashCredit Card ExpenseMerchandise InventorySales	- Select -	- Select -
	Accounts ReceivableCashCost of Merchandise SoldSalesSales Discounts	- Select -	- Select -
blank	Accounts ReceivableCost of Merchandise SoldCredit Card ExpenseMerchandise InventorySales	- Select -	- Select -
	CashCost of Merchandise SoldCredit Card ExpenseMerchandise InventorySales Returns and Allowances	- Select -	- Select -

Question Content Area

e. Paid $81,500 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA, and American Express sales.

blank	Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory	- Select -	- Select -
	Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory	- Select -	- Select -