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Mayfair Co. allows select customers to make purchases on credit. its other customers can use either of two credit cards: Zisa or Access. Zisa deducts

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Mayfair Co. allows select customers to make purchases on credit. its other customers can use either of two credit cards: Zisa or Access. Zisa deducts a 3% service charge for sales on its credit card, Access deducts a 2% service charge for sales on its card, Mayfair completes the following transactions in June. June 4 Sold $650 of merchandise on credit (that had cost $400) to Natara Morris. 5 Sold $6,900 of merchandise (that had cost $4,200) to customers who used their Zisa cards. 6 Sold $5,850 of merchandise (that had cost $3,800) to customers who used their Access cards. 8 Sold $4,358 of merchandise (that had cost $2,900) to customers who used their Access cards. 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $429 balance in McKee's account stemmed from a credit sale in October of last year. 18 Received Morris's check in full payment for the purchase of June 4. Required: Prepare journal entries to record the preceding transactions and events. (The company uses the perpetual inventory system.) (If no entry is required for a transactionlevent, select "No joumal entry required" in the first account field.) Credit No 1 Date June 04 Answer is not complete. General Journal Accounts receivable N. Morris Sales Debit 650 8 650 2 June 04 400 Cost of goods sold Merchandise inventory 400 3 June 05 Interest receivable Credit card expense Sales 3 x 3 6,693 207 6.900 4 June 05 4,200 Cost of goods sold Merchandise inventory 4,200 5 June 06 X Accounts receivable Access Credit card expense Sales 5,733 117 5,850 6 June 06 3.800 Cost of goods sold Merchandise inventory 3,800 7 June 08 & Accounts receivable Access Credit card expense Sales 4,263 877 4,350 8 June 08 Cost of goods sold Merchandise inventory OSI 2.900 2.900 9 June 13 429 Allowance for doubtful accounts Accounts receivable A. Mckee 425 10 June 18 Sales Sales discounts Accounts Receivable - Zisa X x 637X 13 650 X

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