Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system). 1. Sold $39,000 of merchandise, which cost $30,200, on Mastercard credit cards. Mastercard charges a 5% fee. 2. Sold $6,900 of merchandise, which cost $3,950, on an assortment of bank credit cards. These cards charge a 4% fee.

Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system). 1. Sold $39,000 of merchandise, which cost $30,200, on Mastercard credit cards Mastercard charges a 5% fee 2. Sold $6,900 of merchandise, which cost $3,950, on an assortment of bank credit cards. These cards charge a 4% fee