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Tamarisk Stores has been in business for several years, uses a perpetual inventory system and has its own credit card, called Tamarisk Credit. The business

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Tamarisk Stores has been in business for several years, uses a perpetual inventory system and has its own credit card, called Tamarisk Credit. The business also accepts debit cards, and bank credit cards (Visa and MasterCard) as payment for sales. Tamarisk is charged 4% for all bank credit card transactions and $0.50 per debit card transaction Transactions for the business are shown below: May 1 Sales totalled $7,140. Of this amount, $2,600 of the sales were charged on the Tamarisk Credit card and the remainder were cash sales 15 Sales totalled $950. Of this amount, $500 of the sales were charged on the Tamarisk Credit card and the remainder was paid for using Visacre 20 Received payments totalling $2,600 from Tamarisk Credit card customers. 22 Sold goods totalling $1.410 to customers who used the Tamarisk Credit card for payment 30 Sales totalled $3,700. Of this amount. $800 of the sales were charged on the Tamarisk Credit card, and $2.900 was paid for using MasterCar 31 Sales totalled $3,100. All (100 transactions) were debit card transactions. June 1 Added interest charges of $675 to outstanding Tamarisk credit card balances. Prepare the journal entries to record the above transactions. Ignore any inventory or cost of goods sold entries for the purposes of this question. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to decimal places, eg. Do not use accounts receivable use Credit card receivable.)

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