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Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $1,300 of merchandise on credit (that had cost $800 )

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Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $1,300 of merchandise on credit (that had cost $800 ) to Natara Morris, terms n/15. June 5 sold $14,000 of merchandise (that had cost $8,400 ) to customers who used their zisa cards. zisa charges a 28 fee. June 6 Sold $10,000 of merchandise (that had cost $6,000 ) to customers who used their Access cards. Access charges a 18 fee. June 8 Sold $9,000 of merchandise (that had cost $2,900 ) to customers who used their Access cards. Access charges a 38 fee. June 13 Wrote of the account of Abigail Mckee against the A1lowance for Doubtful Accounts. The $1, 080 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. June 8 Sold $9,000 of merchandise (that had cost $2,900 ) to customers who used their Access cards. Access charges a 38 fee. June 13 Wrote off the account of Abigail MoKee against the A1lowance for Doubtful Accounts. The \$1, 080 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. 1 Sold $1,300 of merchandise on credit to Natara Morris, terms n/15. 6 Record cost of goods sold, $6,000. 7 Sold $9,000 of merchandise to customers who used their Access cards. Access charges a 3% fee. 8 Record cost of goods sold, $2,900. 9 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $1,080 balance in McKee's account was from a credit sale last year. 10 Received Morris's check in full payment for the June 4 purchase

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