The following are two independent situations. (a) On April 2, Candice Elston uses her JCPenney Company credit card to purchase merchandise from a JCPenney store for $1,400. On May 1, Elston is billed for the $1,400 amount due. Elston pays $700 on the balance due on May 3 . Elston receives a bill dated June 1 for the amount due, including interest at 3% per month on the unpaid balance as of May 3. Prepare the entries on JCPenney Co.s books related to the transactions that occurred on April 2, May 3, and June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (b) On July 4, Larkspur Restaurant accepts a Visa card for a $400 dinner bill. Visa charges a 4% service fee. Prepare the entry on Larkspur books related to this transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)