Sales-related transactions, including the use of credit cards

Journalize the entries for the following transactions: (If an amount box does not require an entry, leave it blank.)

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a. Sold merchandise for cash, $19,430. The cost of the goods sold was $11,660. (Record the sale first.)

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b. Sold merchandise on account, $10,090. The cost of the goods sold was $6,050. (Record the sale first.)

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c. Sold merchandise to customers who used MasterCard and VISA, $110,890. The cost of the goods sold was $66,530. (Record the sale first.)

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d. Sold merchandise to customers who used American Express, $48,070. The cost of the goods sold was $28,840. (Record the sale first.)

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e. Received and paid an invoice from National Clearing House Credit Co. for $6,020, representing a service fee paid for processing MasterCard, VISA, and American Express sales.

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