Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system). 9.09 1. Sold $40,000 of merchandise, which cost $31000, on Mastercard credit cards. Mastercard charges a 5% fee. 2. Sold $7,000 of merchandise, which cost $4,000, on an assortment of bank credit cards. These cards charge a 4% fee. View transaction list Journal entry worksheet 1 2 3 4 Sold $40,000 of merchandise on Mastercard credit cards, Mastercard charges a 5% fee Note Enter debits before treats Transaction General Journal Debit Credit Record entry Clear entry View general Journal