QS 7-1 Credit card sales LO C1 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 1 Journal entry worksheet 1 2 34 > Sold $25,000 of merchandise on Mastercard credit cards. Mastercard charges a 5% fee. Note: Enter debits before credit