Problem 7-1A (Algo) Sales on credit and sales on credit cards LO C1 Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 sold $1,100 of merehandine on eredit (that had eost $700 ) to Natara Morris, terme n/15. Tune 5 sold $12,000 of nerehandine (that had cost $7,200 ) to cuatceere who ueed their 2 ias oards. Man oharges a 17 fee. June 6 sold $5,000 of metchandise (that had cost $4,600 ) to custosera who used their Aecess eards. Aecesa charges a 26 Iwne a fold 57,000 of nerehabdise (that had coat $2,990 ) to cuntozers who ubed their Aecesn eards. Aconsia eharges a it June 13 Mrete oft the account of Abigail Mekee againat the Allowance for Doubtful Mcocunte. Fhe 1840 balanoe in motee's mecount van from a eredit sale last year. June 16 Aeceived Morris's eheck in full paysent for the fune 4 purehase. Required: Prepare journal entries to record the preceding transactions and events. Journal entry worksheet Sold $1,100 of merchandise on credit to Natara Morris, terms n/15. Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet 5 6 8 9 Sold \$12,000 of merchandise to customers who used their Zisa cards. Zisa charges a 3% fee. Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet 6 8 9 10 Sold \$8,000 of merchandise to customers who used their Access cards. Access charges a 2% fee. Note: tnter debits before credits. Journal entry worksheet Journal entry worksheet 1 2 5 6 8 9 10 Sold $7,000 of merchandise to customers who used their Access cards. Access charges a 1% fee. Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet Wrote off the account of Abigall Mckee against the Alowance for Doubtful Accounts. The $840 balance in Mokee's account was from a credit sale last year. Notei liter detaits before credits. Journal entry worksheet Note: Inter debits before credits