Sales Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions a Sold merchandise for cash, $16,760 The cost of the merchandise sold was $10,060 (Record the sale first ) Accounts ReceivableCashCredit Card ExpenseMerchandise InventorySales Select Select Accounts ReceivableCashCredit Card ExpenseSalesSales Discounts Select Select Accounts ReceivableCost of Merchandise SoldCredit Card ExpenseMerchandise InventorySales Select Select Accounts ReceivableCashCost of Merchandise SoldMerchandise InventorySales Returns and Allowances Select Select b Sold merchandise on account, $8,980 The cost of the merchandise sold was $5,390 (Record the sale first ) Accounts PayableAccounts ReceivableCashCredit Card ExpenseSales Select Select Accounts ReceivableCost of Merchandise SoldCredit Card ExpenseSalesSales Discounts Select Select Accounts PayableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory Select Select Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory Select Select c Sold merchandise to customers who used MasterCard and VISA, $113,060 The cost of the merchandise sold was $67,840 (Record the sale first ) Accounts ReceivableCashCredit Card ExpenseMerchandise InventorySales Select Select Accounts PayableAccounts ReceivableCashSalesSales Discounts Select Select Accounts PayableAccounts ReceivableCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory Select Select Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory Select Select d Sold merchandise to customers who used American Express, $35,260 The cost of the merchandise sold was $21,160 (Record the sale first ) Accounts ReceivableCashCredit Card ExpenseMerchandise InventorySales Select Select Accounts ReceivableCashCost of Merchandise SoldSalesSales Discounts Select Select Accounts ReceivableCost of Merchandise SoldCredit Card ExpenseMerchandise InventorySales Select Select CashCost of Merchandise SoldCredit Card ExpenseMerchandise InventorySales Returns and Allowances Select Select e Paid $5,200 to National Clearing House Credit Co for service fees for processing MasterCard, VISA, and American Express sales Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory Select Select Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory Select Select

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Sales-Related Transactions, Including the Use of Credit Cards

Journalize the entries for the following transactions:

a. Sold merchandise for cash, $16,760. The cost of the merchandise sold was $10,060. (Record the sale first.)

Accounts ReceivableCashCredit Card ExpenseMerchandise InventorySales	- Select -	- Select -
Accounts ReceivableCashCredit Card ExpenseSalesSales Discounts	- Select -	- Select -
Accounts ReceivableCost of Merchandise SoldCredit Card ExpenseMerchandise InventorySales	- Select -	- Select -
Accounts ReceivableCashCost of Merchandise SoldMerchandise InventorySales Returns and Allowances	- Select -	- Select -

b. Sold merchandise on account, $8,980. The cost of the merchandise sold was $5,390. (Record the sale first.)

Accounts PayableAccounts ReceivableCashCredit Card ExpenseSales	- Select -	- Select -
Accounts ReceivableCost of Merchandise SoldCredit Card ExpenseSalesSales Discounts	- Select -	- Select -
Accounts PayableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory	- Select -	- Select -
Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory	- Select -	- Select -

c. Sold merchandise to customers who used MasterCard and VISA, $113,060. The cost of the merchandise sold was $67,840. (Record the sale first.)

Accounts ReceivableCashCredit Card ExpenseMerchandise InventorySales	- Select -	- Select -
Accounts PayableAccounts ReceivableCashSalesSales Discounts	- Select -	- Select -
Accounts PayableAccounts ReceivableCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory	- Select -	- Select -
Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory	- Select -	- Select -

d. Sold merchandise to customers who used American Express, $35,260. The cost of the merchandise sold was $21,160. (Record the sale first.)

Accounts ReceivableCashCredit Card ExpenseMerchandise InventorySales	- Select -	- Select -
Accounts ReceivableCashCost of Merchandise SoldSalesSales Discounts	- Select -	- Select -
Accounts ReceivableCost of Merchandise SoldCredit Card ExpenseMerchandise InventorySales	- Select -	- Select -
CashCost of Merchandise SoldCredit Card ExpenseMerchandise InventorySales Returns and Allowances	- Select -	- Select -

e. Paid $5,200 to National Clearing House Credit Co. for service fees for processing MasterCard, VISA, and American Express sales.

	Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory	- Select -	- Select -
	Accounts ReceivableCashCost of Merchandise SoldCredit Card ExpenseMerchandise Inventory	- Select -	- Select -