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

1. Sold $40,000 of merchandise, that cost $31,000, on MasterCard credit cards. MasterCard charges a 5% fee.
2. Sold $7,000 of merchandise, that cost $4,000, on an assortment of bank credit cards. These cards charge a 4% fee.

Journal entry worksheet 2 Sold $ 40, 000 of merchandise on Mastercard credit cards . Master Card charges 2 5%6 FEE . Note : Enter debits before credits. Transaction General Journal Debit Credit 1 - 21 .Journal entry worksheet Retard the mat nf the sale, $31,0D. Mute: Enter debits before credits. Journal entry worksheet Sold $?,D of merchandise en an easement of bank credit cards. These cards charge a 4% fee. Mute: Enter debits before credits. Journal entry worksheet 2 3 4 Record the cost of the sale, $4,000. Note: Enter debits before credits. Transaction General Journal Debit Credit 2-b