Problem 7 1A Sales on account and credit card sales LO C1 Mayfair Co allows select customers to make purchases on credit Its other customers can use either of two credit cards Zisa or Access Zisa deducts a 5 0 service charge for sales on its credit card Access deducts a 4 0 service charge for sales on its card Mayfair completes the following transactions in June June 4 Sold $700 of merchandise on credit (that had cost $350) to Natara Morris 5 Sold $7,300 of merchandise (that had cost $3,650) to customers who used their Zisa cards 6 Sold $5,890 of merchandise (that had cost $2,945) to customers who used their Access cards 8 Sold $4,510 of merchandise (that had cost $2,255) to customers who used their Access cards 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts The $716 balance in McKees account stemmed from a credit sale in October of last year 18 Received Morriss check in full payment for the purchase of June 4 Required Prepare journal entries to record the preceding transactions and events (The company uses the perpetual inventory system ) (If no entry is required for a transaction event, select No journal entry required in the first account field )

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Problem 7-1A Sales on account and credit card sales LO C1 Mayfair Co. allows select customers to make purchases on credit. Its other customers can

Problem 7-1A Sales on account and credit card sales LO C1

Mayfair Co. allows select customers to make purchases on credit. Its other customers can use either of two credit cards: Zisa or Access. Zisa deducts a 5.0% service charge for sales on its credit card. Access deducts a 4.0% service charge for sales on its card. Mayfair completes the following transactions in June.

June	4	Sold $700 of merchandise on credit (that had cost $350) to Natara Morris.
	5	Sold $7,300 of merchandise (that had cost $3,650) to customers who used their Zisa cards.
	6	Sold $5,890 of merchandise (that had cost $2,945) to customers who used their Access cards.
	8	Sold $4,510 of merchandise (that had cost $2,255) to customers who used their Access cards.
	13	Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $716 balance in McKees account stemmed from a credit sale in October of last year.
	18	Received Morriss check in full payment for the purchase of June 4.

Required: Prepare journal entries to record the preceding transactions and events. (The company uses the perpetual inventory system.) (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)