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Exercise 7-2 Accounting for credit card sales LO C1 Levine Company uses the perpetual inventory system. Apr. 8 Sold merchandise for $7,500 (that had cost $5,543) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. 12 Sold merchandise for $5,000 (that had cost $3,240) and accepted the customer's Continental Card. Continental charges a 2.5% fee. Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet Sold merchandise for $7,500 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before credits. Record entry Clear entry View general journal Journal entry worksheet Record the cost of goods sold, $5,543. Note: Enter debits before credits. Record entry Clear entry View general journal Journal entry worksheet Sold merchandise for $5,000 and accepted the customer's Continental Card. Continental charges a 2.5% fee. Note: Enter debits before credits. Journal entry worksheet Record the cost of goods sold, $3,240. Note: Enter debits before credits. Req uired information Problem 7-2A Estimating and reporting bad debts LO P2, P3 [The following information applies to the questions displayed below. ] At December 31, Hawke Company reports the following results for its calendar year. Cash sales $1,626,500 Credit sales $3 , 819 ,000 In addition. its unadjusted trial balance includes the following items. Accounts receivable $1,157,157 debit Allowance for doubtful accounts 5 19,750 debit \\ Problem 7-2A Part 3 3. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet given the facts in part 1c. (Do not round intermediate calculations.) Current assets: _