Problem 91A Sales on account and credit card sales LOC1 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 2.5% service charge for sales on its credit card and credits the bank account of Mayfair immediately when credit card receipts are deposited Mayfair deposits the Zisa credit card receipts each business when use Access credit cards, Mayfair accumulates the receipts for several days before submitting them to Access for payment. Access deducts a service charge and usually pays within one week of being billed Mayfair completes the following transactions in June. terms of credit sales are 2115, n130, and all sales are recorded at the gross price.) June 4 sold $600 of merchandise (that had cost $300) on credit to Natara Morris. 5 Sold $9,400 of merchandise (that had cost $4,700) to customers who used their zisa Cards 6 Sold $5,748 of merchandise (that had cost s2,874) to customers who used their Access cards. 8 Sold $4,660 of merchandise (that had cost $2,330) to customers who used their Access cards. 10 Submitted Access card receipts accumulated since June 6 to the credit card company for payment. 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $671 balance in McKee's account stemmed from a credit sale in October of last year 17 Received the amount due from Access. 18 Received Morris scheck in full payment for the purchase of June Required: Prepare journal entries to record the preceding transactions and events. The company uses the perpetual inventory system.) (If no journal entry is required for a particular transaction, select "No journal entry required" in the first account field.) ew transaction list view general journal Journal Entry Worksheet Sold $600 of merchandise on credit to Natara Morris. O Type here to search