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Z-Mart uses the perpetual inventory system and has its own credit card. Z-Mart charges a per-month interest fee for any unpaid balance on its store

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Z-Mart uses the perpetual inventory system and has its own credit card. Z-Mart charges a per-month interest fee for any unpaid balance on its store credit card at each month-end. Apr. 30 Z-Mart sold merchandise for $1,300 (that had cost $800) and accepted the customer's Z-Mart store credit card. May 31 Z-Mart recorded $7 of interest earned from its store credit card as of this month-end. Prepare journal entries to record the above credit card transactions of Z-Mart. View transaction list Journal entry worksheet Z-Mart sold merchandise for $1,300 and accepted the customer's Z-Mart store credit card. Note: Enter debits before credits. Date General Journal Debit Credit Apr 30 Record entry Clear entry View general Journal

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