Journalize the entries for the following transactions: Sold merchandise for cash, $18,500. The cost of the merchandise sold was $11,000. Sold merchandise on account, $12,000. The cost of the merchandise sold was $7,200. Sold merchandise to customers who used MasterCard and VISA, $115,200. The cost of the merchandise sold was $70,000. Sold merchandise to customers who used American Express, $45,000. The cost of the merchandise sold was $27,000. Received an invoice from National Credit Co. for $5,600, representing a service fee paid for processing MasterCard, VISA, and American Express sales.

Journalize the entries for the following transactions: Sold merchandise for cash, $18,500. The cost of the merchandise sold was $11,000. Sold merchandise on account, $12,000. The cost of the...

Sold merchandise for cash, $18,500. The cost of the merchandise sold was $11,000.

Sold merchandise on account, $12,000. The cost of the merchandise sold was $7,200.

Sold merchandise to customers who used MasterCard and VISA, $115,200. The cost of the merchandise sold was $70,000.

Sold merchandise to customers who used American Express, $45,000. The cost of the merchandise sold was $27,000.

Received an invoice from National Credit Co. for $5,600, representing a service fee paid for processing MasterCard, VISA, and American Express sales.

Jun 09, 2022