Kasko Stores accepts both its own and national credit cards. During the year the following selected summary transactions occurred.

Jan. 15 Made Kasko credit card sales totaling \(\$ 16,000\).

20 Made American Express credit card sales (service charge fee, \(5 \%\) ) totaling \(\$ 2,800\).

30 Received payment in full from American Express less a 5\% service charge.

Feb. 10 Collected \(\$ 12,000\) on Kasko credit card sales.

15 Added finance charges of \(1.5 \%\) to Kasko credit card balance.

\section*{Instructions}

(a) Journalize the transactions for Kasko Stores

(b) Indicate the statement presentation of the financing charges and the credit card service expense for Kasko Stores.