Saved QS 7-1 Credit card sales LO C1 Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system) 1. Sold $25,000 of merchandise, that cost $19,000, on MasterCard credit cards. MasterCard charges a 5% fee. 2 Sold $5.500 of merchandise, that cost $3,250, on an assortment of bank credit cards. These cards charge a 4% fee. View transaction list Journal entry worksheet Sold $25,000 of merchandise on MasterCard credit cards. MasterCard charges a 5% fee. Note: Enter debits befor. credits. General Journal Credit ction View genaral journal Clear entry Racord entry of 16 IEE Next > 21