M8 Homework i Saved 1 Mayfair Company completed the following transactions and uses a perpetual inventory system. Help Save & Exit Submit Check my work 10 points eBook Print References June 4 Sold $1,200 of merchandise on credit (that had cost $700) to Natara Morris, terms n/15. June 5 Sold $13,000 of merchandise (that had cost $7,800) to customers who used their Zisa cards. Zisa charges a 1% fee. June 6 Sold $9,000 of merchandise (that had cost $5,400) to customers who used their Access cards. Access charges a 3% fee. June 8 Sold $8,000 of merchandise (that had cost $2,900) to customers who used their Access cards. Access charges a 2% fee. June 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $960 balance in McKee's account was from a credit sale last year. June 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 > Sold $1,200 of merchandise on credit to Natara Morris, terms n/15. Note: Enter debits before credits. Date General Journal Debit Credit June 04 Accounts receivable-N. Morris 1,200 Sales 1,200 View general journal Record entry Clear entry Journal entry worksheet < 1 2 3 4 Record cost of goods sold, $700. 5 LO 6 10 7 00 8 9 10 > Note: Enter debits before credits. Date General Journal Debit Credit June 04 Cost of goods sold 700 Merchandise inventory 700 Record entry Clear entry View general journal Journal entry worksheet > 1 2 3 4 5 6 7 8 9 10 > Sold $13,000 of merchandise to customers who used their Zisa cards. Zisa charges a 1% fee. Note: Enter debits before credits. Date General Journal Debit Credit 12,870 June 05 Accounts receivable-Zisa Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 Record cost of goods sold, $7,800. Note: Enter debits before credits. 5 LO 6 7 00 8 9 10 > Date General Journal Debit Credit June 05 Cost of goods sold 7,800 Merchandise inventory 7,800 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 LO 5 6 7 8 9 10 > Sold $9,000 of merchandise to customers who used their Access cards. Access charges a 3% fee. Note: Enter debits before credits. Date June 06 General Journal Debit Credit 8,730 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 Record cost of goods sold, $5,400. Note: Enter debits before credits. LO 5 00 6 7 00 8 9 Date General Journal Debit Credit June 06 Cost of goods sold 5,400 Merchandise inventory 5,400 10 Record entry Clear entry View general journal > Journal entry worksheet > 1 2 3 4 5 6 7 8 9 10 > Sold $8,000 of merchandise to customers who used their Access cards. Access charges a 2% fee. Note: Enter debits before credits. Date June 08 General Journal Debit Credit 7,840 Record entry Clear entry View general journal Journal entry worksheet 4 Record cost of goods sold, $2,900. Note: Enter debits before credits. 7 00 10 Date General Journal Debit Credit June 08 Cost of goods sold 2,900 Merchandise inventory 2,900 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 > Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $960 balance in McKee's account was from a credit sale last year. Note: Enter debits before credits. Date General Journal Debit Credit June 13 Allowance for doubtful accounts 960 Accounts receivable-A. McKee 960 Record entry Clear entry View general journal Journal entry worksheet > 1 2 3 4 5 6 7 8 00 Received Morris's check in full payment for the June 4 purchase. Note: Enter debits before credits. Date General Journal Debit Credit June 18 Accounts receivable-A. McKee 10 View general journal Record entry Clear entry >