s.Using the perpetual inventory system, journalize the entries for the following selected transactions: Sold merchandise on account, for $12,000. The cost of the merchandise sold was $6,500 merchandise sold was $5,300. merchandise sold was $1,700. MasterCard and VISA sales. deducted. (a) (b) Sold merchandise to customers who used MasterCard and VISA, $9,500. The cost of the (c) Sold merchandise to customers who used American Express, $2,900. The cost of the (d) Paid an invoice from First National Bank for $385, representing a service fee for processing (e) Received $4,325 from American Express Company after a $115 collection fee had been ANS