Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $650 of merchandise on credit (that had cost $400) to Natara Morris, terms n/15. June 5 Sold $6,900 of merchandise (that had cost $4,200) to customers who used their Zisa cards. Zisa charges a 34 fee. June 6 Sold $5,856 of merchandise (that had cost $3,800) to customers who used their access cards. Access charges a 24 June 8 Sold $4,358 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 $429 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. fee. Required: Prepare journal entries to record the preceding transactions and events. View transaction list Journal entry worksheet Sold $650 of merchandise on credit to Natara Morris, terms n/15. ces Note: Enter debits before credits. General Journal Date June 04 Credit Debit 650 650 Record entry Clear entry View general journal Journal entry worksheet Sold $6,900 of merchandise to customers who used their Zisa cards. Zisa charges a 3% 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, $4,200. Note: Enter debits before credits. General Journal Date June 05 Debit Credit 4,200 4,200 Record entry Clear entry View general journal View transaction list Journal entry worksheet Sold $5,850 of merchandise to customers who used their Access cards. Access charges a 2% fee. Note: Enter debits before credits. Date General Journal Debit Credit June 06 Record entry Clear entry View general journal Journal entry worksheet Record cost of goods sold, $3,800. Note: Enter debits before credits General Journal Date June 06 edit Debit 3,800 3,800 Record entry Clear entry View general journal Journal entry worksheet Record cost of goods sold, $2,900. Note: Enter debits before credits. Date General Journal Debit Credit June 08 2,900 2,900 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 OD 7 8 9 10 > Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $429 balance in McKee's account was from a credit sale last year. Note: Enter debits before credits. Date General Journal Debit Credit June 13 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. General Journal Debit Date June 18 Credit 650 650 Record entry Clear entry View general Journal
