Sales-related transactions, including the use of credit cards Chart of Accounts Journal Journalize the entries for the following transactions. Refer to the Chart of Accounts for exact wording of account titles. (Note: The company uses a clearinghouse to take care of all bank as well as non-bank credit cards used by its customers.) Chart of Accounts Mar 1 Sold merchandise for cash, $116,300. The cost of the merchandise sold was $72,000. Sold merchandise on account, $755,000. The cost of the merchandise sold was $400,000 Sold merchandise to customers who used MasterCard and VISA, $1,950,000. The cost of the merchandise sold was $1,250,000. Sold merchandise to customers who used American Express, $330,000. The cost of the merchandise sold was $230,000 Paid $31,500 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA, and American Express sales. 10 CHART OF ACCOUNTS 12 General Ledger 17 ASSETS REVENUE 31 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Merchandise Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation- 410 Sales 610 Rent Revenue Journal EXPENSES 510 Cost of Merchandise Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense- Journalize the entries for the March transactions. Refer to the Chart of Accounts for exact wording of account ti PAGE Store Equipment 525 Depreciation Expense- OURNAL Office Equipment DATE POST. REF DEBIT CREDIT Store Equipment 528 Salaries Expense 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 538 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense 194 Office Equipment 195 Accumulated Depreciation- Office Equipment LIABILITIES 210 Accounts Payable 216 Salaries Payable 218 Sales Tax Payable 219 Customers Refunds Payable 220 Uneamed Rent 221 Notes Payable