Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system). 1. Sold $20,000 of merchandise, which cost $15,000, on Mastercard credit cards. Mastercard charges a 5% fee. 2. Sold $5,000 of merchandise, which cost $3,000, on an assortment of bank credit cards. These cards charge a 4% fee View transaction list Journal entry worksheet 1 2 3 Transaction 1-a. Sold $20,000 of merchandise on Mastercard credit cards. Mastercard charges a 5% fee. Note: Enter debits before credits. 4 General Journal Debit Credit www A

Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system). 1. Sold $20,000 of merchandise, which cost $15,000, on Mastercard credit cards. Mastercard charges a 5% fee. 2. Sold $5,000 of merchandise, which cost $3,000, on an assortment of bank credit cards. These cards charge a 4% fee Journal entry worksheet 4 Sold $20,000 of merchandise on Mastercard credit cards. Mastercard charges a 5% fee. Note: Enter debits before credits