Levine Company uses the perpetual inventory system and allows customers to use two credit cards in charging purchases. With the Suntrust Bank Card, a 4% service charge for credit card sales is assessed. The second credit card that Levine accepts is the Continental Card. Continental assesses a 2.5% charge on sales for using its card.

Apr.		8		Sold merchandise for $3,500 (that had cost $2,587) and accepted the customer's Suntrust Bank Card.
		12		Sold merchandise for $9,000 (that had cost $5,832) and accepted the customer's Continental Card. Sold merchandise for $3,500 and accepted the customers Suntrust Bank Card. 2 Record the cost of goods sold, $2,587. 3 Sold merchandise for $9,000 and accepted the customers Continental Card. 4 Record the cost of goods sold, $5,832.