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Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $1,000 of merchandise on credit (that had cost $1,100) to

Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $1,000 of merchandise on credit (that had cost $1,100) to Natara Morris, terms n/15.. June 5 Sold $20,000 of merchandise (that had cost $12,000) to customers who used their Zisa cards. Zina charges a 19 fee. June 6 Sold $14,000 of merchandise (that had cost $8,400) to customers who used their Access cards. Access charges a 31 June fee. Sold $12,000 of merchandise (that had cost $2,900) to customers who used their Access cards. Access charges a 21 fee. June 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $1,440 balance in McKee's account was from a credit sale last year.. June 10 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events

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