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Mayfar Company completed the following transactions and uses a perpetual Inventory system. June 4 Sold $1,500 of merchandise on credit (that had cost $90 )
Mayfar Company completed the following transactions and uses a perpetual Inventory system. June 4 Sold $1,500 of merchandise on credit (that had cost $90 ) to Natara Morris, terms n/15. June 5 sold $17, ee of merchandise (that had cost $10,20 ) to customers who used their 2 isa cards. Zisa charges a 1% fee. June 6 Sold $12,60 of merchandise (that had cost $7,20 ) to customers who used their Access cards. Access charges a 3% fee. June 8 sold $10,00 of merchandise (that had cost $2,99 ) 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 $1,20e 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. Requlred: Prepare journal entrles to record the preceding transactions and events. Required: Prepare journal entries to record the preceding transactions and events
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