Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system). 1. Sold $26,000 of merchandise, which cost $19,800, on Mastercard credit cards. Mastercard charges a 5% fee. 2. Sold $5,600 of merchandise, which cost $3,300, on an assortment of bank credit cards. These cards charge a 4% fee. View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1 1-a. Cash 26,000 Credit card expense Sales