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

Sold $$20,000$ of merchandise, which cost $$15,000,$ on Mastercard credit cards. Mastercard charges a $5\%$ fee.

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

Sold $$20,000$ of merchandise on Mastercard credit cards. Mastercard charges a

$5\%$ fee.

Note: Enter debits before credits.