Question 1 of 5 -/14 View Policies Current Attempt in Progress Sage Hill Stores has been in business for several years, uses a perpetual inventory system and has its own credit card, called Sage Hill Credit. The business also accepts debit cards, and bank credit cards (Visa and MasterCard) as payment for sales Sage Hill is charged 4% for all bank credit card transactions and $0.50 per debit card transaction. Transactions for the business are shown below: May 1 15 20 22 Sales totalled $6,740. Of this amount, $2,300 of the sales were charged on the Sage Hill Credit card and the remainder were cash sales Sales totalled $1.500. Of this amount $1,000 of the sales were charged on the Sage Hill Credit card and the remainder was paid for using Visa credit cards Received payments totalling $2,200 from Sage Hill Credit card customers. Sold goods totalling 51.430 to customers who used the Sage Hill Credit card for payment Sales totalled $3.900. Of this amount $600 of the sales were charged on the Sage Hill Credit card, and $3,300 was paid for using MasterCard. Sales totalled $3,800. All (100 transactions) were debit card transactions Added interest charges of $665 to outstanding Sage Hill credit card balances 30 31 1 June Prepare the journal entries to record the above transactions. Ignore any inventory or cost of goods sold entries for the purposes of this question. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to decimal places, eg 5 275. Do not use accounts receivable use Credit card receivable.) Date Account Titles and Explanation Debit Credit May 1 May 15 Question 1 of 5 -/14 May 15 May 30 May 31