Q8

Prepare Journal entries for the following credit card sales transactions (the company uses the perpetual Inventory system) 1. Sold $25,000 of merchandise, which cost $19,000. on Mastercard credit cards. Mastercard charges a 5% fee. 2. Sold $5,500 of merchandise, which cost $3,250, on an assortment of bank credit cards. These cards charge a 4% fee. View transaction list Journal entry worksheet