Required: Prepare journal entries to record the preceding transactions and events. (Do not round intermediate calculations.)

General Journal:

• Accounts payableA. McKee
• Accounts payableAccess
• Accounts payableN. Morris
• Accounts Receivable - Zisa
• Accounts receivableA. McKee
• Accounts receivableAccess
• Accounts receivableN. Morris
• Allowance for doubtful accounts
• Bad debts expense
• Cash
• Cost of goods sold
• Credit card expense
• Factoring fee expense
• Interest receivable
• Interest revenue
• Merchandise inventory
• Notes payable
• Notes receivable
• Sales
• Sales discounts

Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $800 of merchandise on credit (that had cost $320) to Natara Morris, terms o/15. 5 sold $7,500 of merchandise (that had cost $3,000) to customers who used their Zisa cards. Zisa charges a 5.5% fee. 6 Sold $5,652 of merchandise (that had cost $2,261) to customers who used their Access cards. Access charges a 4.5% fee. 8 Sold $4,970 of merchandise (that had cost $1,988) to customers who used their Access cards. Access charges a 4.5% fee. 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $611 balance in McKee's account was from a credit sale last year. 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. (Do not round intermediate calculations.) View transaction list Journal entry worksheet Record cost of goods sold, $320. Note: Enter debits before credits. Date General Journal Debit Credit June 04 Record entry Clear entry View general Journal Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $800 of merchandise on credit (that had cost $320) to Natara Morris, terms o/15. 5 sold $7,500 of merchandise (that had cost $3,000) to customers who used their Zisa cards. Zisa charges a 5.5% fee. 6 Sold $5,652 of merchandise (that had cost $2,261) to customers who used their Access cards. Access charges a 4.5% fee. 8 Sold $4,970 of merchandise (that had cost $1,988) to customers who used their Access cards. Access charges a 4.5% fee. 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $611 balance in McKee's account was from a credit sale last year. 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. (Do not round intermediate calculations.) View transaction list Journal entry worksheet Record cost of goods sold, $3,000. Note: Enter debits before credits. Date General Journal Debit Credit June 05 Record entry Clear entry View general Journal Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $800 of merchandise on credit (that had cost $320) to Natara Morris, terms n/15. 5 Sold $7,500 of merchandise (that had cost $3,000) to customers who used their Zisa cards. Zisa charges a 5.54 fee. 6 Sold $5,652 of merchandise (that had cost $2,261) to customers who used their Access cards. Access charges a 4.5% fee. 8 Sold $4,970 of merchandise (that had cost $1,988) to customers who used their Access cards. Access charges a 4.58 fee. 13 wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $611 balance in McKee's account was from a credit sale last year. 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. (Do not round intermediate calculations.) View transaction list Journal entry worksheet Sold $5,652 of merchandise to customers who used their Access cards. Access charges a 4.5% fee. Note: Enter debits before credits. Date General Journal Debit Credit June 06 Record entry Clear entry View general journal Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $800 of merchandise on credit (that had cost $320) to Natara Morris, terms n/15. 5 Sold $7,500 of merchandise (that had cost $3,000) to customers who used their Zisa cards. Zisa charges a 5.5% fee. 6 Sold $5,652 of merchandise (that had cost $2,261) to customers who used their Access cards. Access charges a 4.5% fee. 8 Sold $4,970 of merchandise (that had cost $1,988) to customers who used their Access cards. Access charges a 4.5% fee. 13 Wrote off the account of Abigail Mckee against the Allowance for Doubtful Accounts. The $611 balance in McKee's account was from a credit sale last year. 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. (Do not round intermediate calculations.) View transaction list Journal entry worksheet Record cost of goods sold, $2,261. Note: Enter debits before credits. General Journal Debit Credit Date June 06 Record entry Clear entry View general journal Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $800 of merchandise on credit (that had cost $320) to Natara Morris, terms n/15. 5 Sold $7,500 of merchandise (that had cost $3,000) to customers who used their Zisa cards. Zisa charges a 5.5% fee. 6 Sold $5,652 of merchandise (that had cost $2,261) to customers who used their Access cards. Access charges a 4.5% fee. 8 Sold $4,970 of merchandise (that had cost $1,988) to customers who used their Access cards. Access charges a 4.5% fee. 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $611 balance in McKee's account was from a credit sale last year. 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. (Do not round intermediate calculations.) View transaction list Journal entry worksheet Sold $4,970 of merchandise to customers who used their Access cards. Access charges a 4.5% fee. Note: Enter debits before credits. Date General Journal Debit Credit June 08 Record entry Clear entry View general Journal Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $800 of merchandise on credit (that had cost $320) to Natara Morris, terms n/15. 5 Sold $7,500 of merchandise (that had cost $3,000) to customers who used their Zisa cards. Zisa charges a 5.5% fee. 6 Sold $5,652 of merchandise (that had cost $2,261) to customers who used their Access cards. Access charges a 4.58 fee. 8 Sold $4,970 of merchandise (that had cost $1,988) to customers who used their Access cards. Access charges a 4.5% fee. 13 Wrote off the account of Abigail Mckee against the Allowance for Doubtful Accounts. The $611 balance in McKee's account was from a credit sale last year. 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. (Do not round intermediate calculations.) View transaction list Journal entry worksheet Record cost of goods sold, $1,988. Note: Enter debits before credits. General Journal Debit Credit Date June 08 Record entry Clear entry View general Journal Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $800 of merchandise on credit (that had cost $320) to Natara Morris, terms n/15. 5 Sold $7,500 of merchandise (that had cost $3,000) to customers who used their Zisa cards. Zisa charges a 5.5% fee. 6 Sold $5,652 of merchandise (that had cost $2,261) to customers who used their Access cards. Access charges a 4.58 fee. 8 sold $4,970 of merchandise (that had cost $1,988) to customers who used their Access cards. Access charges a 4.58 fee. 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $611 balance in McKee's account was from a credit sale last year. 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. (Do not round intermediate calculations.) View transaction list Journal entry worksheet Wrote off the account of Abigail Mckee against the Allowance for Doubtful Accounts. The $611 balance in McKee's account was from a credit sale last year. Note: Enter debits before credits. General Journal Debit Credit Date June 13 Record entry Clear entry View general journal Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $800 of merchandise on credit (that had cost $320) to Natara Morris, terms n/15. 5 Sold $7,500 of merchandise (that had cost $3,000) to customers who used their Zisa cards. Zisa charges a 5.5% fee. 6 Sold $5,652 of merchandise (that had cost $2,261) to customers who used their Access cards. Access charges a 4.5% fee. 8 Sold $4,970 of merchandise (that had cost $1,988) to customers who used their Access cards. Access charges a 4.5% fee. 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $611 balance in McKee's account was from a credit sale last year. 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. (Do not round intermediate calculations.) View transaction list Journal entry worksheet Received Morris's check in full payment for the June 4 purchase. Note: Enter debits before credits. Date General Journal Debit Credit June 18 Record entry Clear entry View general journal