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Obj. 2 EX 5-8 Sales-related transactions, including the use of credit cards Journalize the entries for the following transactions: A. Sold merchandise for cash, $25,000.

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Obj. 2 EX 5-8 Sales-related transactions, including the use of credit cards Journalize the entries for the following transactions: A. Sold merchandise for cash, $25,000. The cost of the goods sold was $17,500. Sold merchandise on account, $98,000. The cost of the goods sold was $58,800. Sold merchandise to customers who used MasterCard and VISA, $475,000. The cost of the goods sold was $280,000. Sold merchandise to customers who used American Express, $63,000. The cost of the goods sold was $39,000. Received an invoice from National Clearing House Credit Co. for $13,450 representing a service fee paid for processing MasterCard, VISA, and American Express sales. SHOW ME HOW B. C D. E

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