Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system).

1. Sold $33,000 of merchandise, which cost $25,400, on Mastercard credit cards. Mastercard charges a 5% fee.
2. Sold $6,300 of merchandise, which cost $3,650, on an assortment of bank credit cards. These cards charge a 4% fee.

Journal entry worksheet

• Sold $33,000 of merchandise on Mastercard credit cards. Mastercard charges a 5% fee.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
1-a.

Journal entry worksheet

• Record the cost of the sale, $25,400.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
1-b.

Journal entry worksheet

• Sold $6,300 of merchandise on an assortment of bank credit cards. These cards charge a 4% fee.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
2-a.

Journal entry worksheet

• Record the cost of the sale, $3,650.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
2-b.