problem#4 (10 points) Name de Company uses the perpetual inventory system and allows customers to use two credit cards in harging purchases. With the Suntrust Bank Card, Levine receives an immediate credit to its account when it deposits sales receipts. Suntrust assesses a 4% service charge for credit card sales. The second credit card that Levin accepts is Continental Card. Levin sends its accumulated receipts to Continental on a weekly basis and is paid by Continental a week later. Continental assesses a 2.5% charge on sales for using it card. Prepare journal entries to record the following credit card transactions of Levin Company Apr 8. Sold merchandise for $8,400 (that cost $6,000) and accepted the customers Suntrust Bank Card. The Sunset receipts are immediately deposited in Levin's bank account. Apr 12. Sold merchandise for $5,600 (that cost $3.500) and accepted the customer's Continental Card. Transferred $5,600 of credit card receipts to Continental requesting payment. Apr 20. Received Continental's check for the April 12 billing, less the service fee