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Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $700 of merchandise on credit (that had cost $350) to

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Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $700 of merchandise on credit (that had cost $350) to Natara Morris, terms n/15. 5 sold $7,700 of merchandise (that had cost $3,850) to customers who used their Zisa cards. Zisa charges a 5.5% fee. 6 Sold $6,164 of merchandise (that had cost $3,082) to customers who used their Access cards. Access charges a 4.5% fee. 8 Sold $4,390 of merchandise (that had cost $2,195) to customers who used their Access cards. Access charges a 4.5% fee. 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $730 balance in McKee's account was from a credit sale last year. 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. (Do not round intermediate calculations.) View transaction list Journal entry worksheet Sold $700 of merchandise on credit to Natara Morris, terms w/15. Note: Enter debits before credits General Journal Debit Credit Data June 04 Record entry Clear entry View general Journal Journal entry worksheet Record cost of goods sold, $350. Note: Enter debits before credits. Date General Journal Debit Credit June 04 Record entry Clear entry Vlow general Journal Journal entry worksheet Sold $7,700 of merchandise to customers who used their Zisa cards. Zisa charges a 5.5% fee. Note: Enter debits before credits. Date General Journal Debit Credit June 05 Record entry Clear entry View general journal Journal entry worksheet Record cost of goods sold, $2,195. Note: Enter debits before credits Date General Journal Debit Credit June 08 Record entry Clear entry View general journal Journal entry worksheet Received Morris's check in full payment for the June 4 purchase. Note: Enter debits before credits. Date General Journal Debit Credit June 18 Record entry Clear entry View general Journal

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