OBJ. 2 EX 6-9 Sales-related transactions, including the use of credit cards Journalize the entries for the following transactions: a. Sold merchandise for cash, $116,300. The cost of the merchandise sold was $72,000. b. Sold merchandise on account, $755,000. The cost of the merchandise sold was $400,000. c. Sold merchandise to customers who used MasterCard and VISA, $1,950,000. The cost of the merchandise sold was $1,250,000. Continued) 324 Accounting for Merchandising Businesses Chapter 6 cost of the sed American Express, $330,000. The c d. Sold merchandise to customers who u merchandise sold was $230,000. e. Paid $81,500 to National Clearing House Credit Co. for service fees for pro MasterCard, VISA, and American Express sales. After the amount due on a sale of $28,000, terms 2/10, n/eom, is received from a within the discount period, the seller consents to the return of the entire shiesoer cash refund. The cost of the merchandise returned was $16,800. (a) What is the the refund owed to the customer? (b) Journalize the entries made by the se the return and the refund EX 6-10 Sales-related transactions How amount ler to record EX 6-11 Sales-related transactions The debits and credits for four related entries for a sale of $15,000, terms 1/10, n/30,.m presented in the following T accounts. Describe each transaction. Cash Sales 13,860 1485 Accounts Receivable Cost of Merchandise Sold 14,850 (3) 990 13,860 (2) 8,800 Merchandise Inventory 575 (2) Estimated Returns Inventory 8,800 575 Customer Refunds Payable 990