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 2 percent fee. American Express charges a 3 percent fee. Royal Gitt 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: OATE TRAKSACTIONS 26x reb. 1 Sold erystal goods to Lovely Kitchens, a wholesale customer. The 1ist price is 53, 260, wth a 25 percent trade discount. This sale is not subject to sales tax. Issued Invoice 5950 mith terns of n/1s. 15. Mecorded cash sales for the period from February 1 to rebruary 15 of $7,700 plus sales tax of $616. 15 fleconded sales for the perlod frea February 1 to Februsey 15 to customers using bask credit cards of s11, 200 plus sales tax of 5896 . (Record the 2 percent credit card expense at this tine-) 16 Recelved a check fron tovely kitchens in payent of thvolce 5950 dated fehruary 1. 16 sold merchandise to customers using American Express for. $7,200 plus sales tox of $576. 17 Sold a set of Moman itatues to Eeautiful Eedrooks, a wholesale customer. The list price is 57,200 , with a 30 percent trade discount. This sale is not subject to sales tax. Issued Ievolce 5951 with terms of n/is. 20 Recelved payent from Americsn Express for the asount billied on February 16, less a 3 percent credit card expense. 27 Recelved a check from Beautiful Bedrooms in paynent of Irwolce sosi dated rebruary 17. 23 Hectrded cash sales for the period from february 10 to tebruary 28 of 56 , 350 plus sales tax of 5548 . 26 Recorded isales for the period from february 16 to February 20 to customers usirg bank credit cards of 510,000 plus sales cas af 1 sob. (hecard the 2 percent credit card expense at this tine.) 28. Sold eerchandise to customers using Anerican capress for $5,400 plus sales tax of 5672 , Required: 2. Record the transactions in a general journal. 3. Post the entries from the general journal to the appropriate accounts in the general fedget GENERAL itDGE ACCOVNTS 101Cbsh,121,430 Dr 121 ficcounts ilecedvable 2.2 sales Tax. Dayable 401 sales 5a1 Credit card fwpens: Analyze: What was the total credit card expense incurred in February? Record the transactions in a general journal. (Round your intermediate calculations and final answers to 2 declmal places.)