Royal Gift Shop sells cards, supplies, and various holiday greeting cards. Sales to retail customers are subject to an 8 percent sales tax. The firm sells its merchandise for cash; to customers using bank credit cards, such as MasterCard and Visa; and to customers using American Express. The bank credit cards charge a 1 percent fee. American Express charges a 2 percent fee. Royal Gift Shop also grants trade discounts to certain wholesale customers who place large orders. These orders are not subject to sales tax. During February 20X1, Royal Gift Shop engaged in the following transactions: DATE TRANSACTIONS 20x1 Feb. 1 Sold crystal goods to Lovely Kitchens, a wholesale customer. The list price is $3,900, with a 20 percent trade discount. This sale is not subject to sales tax. Issued Invoice 5950 with terns of n/15 15 Recorded cash sales for the period from February 1 to February 15 of $8,400 plus sales tax of $672. 15 Recorded sales for the period from February 1 to February 15 to customers using bank credit cards of $11, 900 plus sales tax of 1952. (Record the 1 percent credit card expense at this time.) 16 Received a check from Lovely Kitchens in payment of Invoice 5050 dated February 1. 16 Sold merchandise to customers using American Express for $7,000 plus sales tax of $632 17 Sold a set of Roman statues to Beautiful Bedrooms, a wholesale customer. The list price is 37,000, with a 25 percent trade discount. This sale is not subject to sales tax. Issued Invoice 5951 with terms of n/15 20 Received payment from American Express for the amount billed on February 16, less a 2 percent credit card expense. 27 Received a check from Beautiful Bedrooms in payment of Invoice 5951 dated February 17 28 Recorded cash sales for the period from February 16 to February 28 of $7,200 plus sales tax of $576 28 Recorded sales for the period from February 16 to February 28 to customers using bank credit cards of $20,000 plus sales tax of $1,600. (Record the 1 percent credit card expense at this time.) 28 Sold merchandise to customers using American Express for $9,100 plus sales tax of $728. Required: 2. Record the transactions in a general journal. 3. Post the entries from the general Journal to the appropriate accounts in the general ledger GENERAL LEDGER ACCOUNTS 101 Cash, $22,130 Dr. 121 Accounts Receivable 401 Sales 521 Credit Card Expense General Journal General Ledgers Analyze Record the transactions in a general journal. (Round your intermediate calculati View transaction list 11 1 Sold crystal goods to Lovely Kitchens, a wholesale customer. The list price is $3,900, with a 20 percent trade discount. This sale is not subject to sales tax. Issued Invoice 5950 with terms of n/15. price i ales ta 2 Recorded cash sales for the period from February 1 to February 15 of $8,400 plus sales tax of $672. 3 Cred Recorded sales for the period from February 1 to February 15 to customers using bank credit cards of $11,900 plus sales tax of $952. (Record the 1 percent credit card expense at this time.) 4 Received a check from Lovely Kitchens in payment of Invoice 5950 dated February 1. Note : = journal entry has been entered Record entry Clear entry View ge General Journal General Ledgers Analyze Record the transactions in a general journal. (Round your intermediate calculat View transaction list 1 5 Sold merchandise to customers using American Express for $7,900 plus sales tax of $632. price ales 1 6 Sold a set of Roman statues to Beautiful Bedrooms, a wholesale customer. The list price is $7,900, with a 25 percent trade discount. This sale is not subject to sales tax. Issued Invoice 5951 with terms of n/15. 7 Received payment from American Express for the amount billed on February 16, less a 2 percent credit card expense. Cre 8 Received a check from Beautiful Bedrooms in payment of Invoice 5951 dated February 17. Rerorded rach cales for the nerind from February 16 tn Note : = journal entry has been entered Record entry Clear entry Viewg General Journal General Ledgers Analyze Record the transactions in a general journal. (Round your intermediate calculations View transaction list billed on February 16, less a 2 percent credit card expense. 11 8 Received a check from Beautiful Bedrooms in payment of Invoice 5951 dated February 17. price is ales tax. Recorded cash sales for the period from February 16 to February 28 of $7,200 plus sales tax of $576. Credit 10 Recorded sales for the period from February 16 to February 28 to customers using bank credit cards of $20,000 plus sales tax of $1,600. (Record the 1 percent credit card expense at this time.) 11 Sold merchandise to customers using American Express for $9,100 plus sales tax of $728. Note : = journal entry has been entered Record entry Clear entry View general General Journal General Ledger AV decimal places) Post the entries from the general Journal to the appropriate accounts in the general ledger (Round your intermediate calculations and final awwers to 2 Cash Account No. 101 Accounts Receivable Account No 121 Date Debit Credit Balance Debut Credit Balance Feb 01. 201 Date Sales Sales Tax Payable Date Debit Account No. 222 Credit Balance Account No. 401 Credit Balance Date Debat Sales Sales Tax Payable Date Debit Account No. 222 Credit Balance Account No. 401 Credit Balance Date Debit Credit Card Expense Date Debit Account No. 521 Credit Balance Analyze: What was the total credit card expense incurred in February? Complete this question by entering your answers in the tabs below. General Journal General Analyze Ledgers What was the total credit card expense incurred in February? (Round your intermediate calculations and final answer to 2 decimal places.) Credit card expense