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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 $600 )

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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 $600 ) to Natara Morris, terms n/15. June 5 Sold $11,600 of merchandise (that had cost $6,600 ) to customers who used their Zisa cards. Zisa charges a 24 fee. June 6 Sold $8,600 of merchandise (that had cost $4,800 ) to customers who used their Access cards. Access charges a June 8 sold $ fee. June 8 Sold $7,000 of merchandise (that had cost $2,900 ) to customers who used their Access cards. Access charges a June 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $840 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 entrles to record the preceding transactions and events. Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $1,000 of merchandise on credit (that had cost $600 ) to Natara Morris, terms n/15. June 5 Sold $11,000 of merchandise (that had cost $6,680 ) to customers who used their Zisa cards. Zisa charges a 2 . fee. June 6 Sold $8,060 of merchandise (that had cost $4,800 ) to customers who used their Access cards. Access charges a 14 tee. June 8 Sold $7,600 of merchandise (that had cost $2,900 ) to customers who used their Access cards. Access charges a 3\% fee. June 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $846 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. their Access cards. Access charges a 1% fee

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