Ruth Anne's Fabrics except cash, personal checks, and two credit cards when customers buy merchandise. With the Great American Bank Card, Ruth Ann fabrics receives an immediate deposit and it's checking account when credit card sales slips are deposited at the bank. The bank charges a 4% fee. With the United Merchants Card, Ruthann's fabrics mails the credit card sales slips to United Merchants' regional processing center each day. United Merchants accumulates the slips for three days and then mails a check to Ruth Ann fabrics after deducting a 3% fee. Prepare journal entries to record the following.

Round to the nearest dollar