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Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $1,100 of merchandise on credit (that had cost $760 )

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Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $1,100 of merchandise on credit (that had cost $760 ) to Natara Morris, terms n/15. June 5 Sold $12,060 of merchandise (that had cost $7,200 ) to customers who used their Zisa cards. Zisa charges a 34 fec. June 6 Sold $8,000 of merchandise (that had cost $4,800 ) to customers who used their Access cards. Access charges a 24 fee. June 8 Sold $7,600 of merchandise (that had cost $2,900 ) to customers who used their Access cards. Access charges a 19 June 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $840 batance in MeKee's account was from a credit sale last year. June 18 Received Morris's check in full paynent for the June 4 purchase

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