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Credit Card Sales La Kai Gallery sells quality art work, with prices for individual pieces ranging from $500 to $25,000 Sales are infrequent, typically only six to ten pieces per week. The following transactions occurred during the first week of June. Perpetual inventory is used.

Jun.1	Sold a framed print to Likert Antiques on account, with 2/10,n/30 credit terms for	$990	($660	cost)
Jun.2	Sold three framed etchings to Annabelle Herrera, totaling	$2,800	($1,760	cost)
	who used the United Merchants Card to charge the cost of the etchings. La Kai
	mailed the credit card sales slip to United Merchants the same day. United Merchants
	will send a check within seven days after deducting a 1 % fee.
Jun.4	Sold an oil painting to Ryan LaLander, who paid with a personal check:	$2,090	$1,210	cost
Jun.5	Sold a watercolor to Julie and Bobby Herman, who used their Great American Bank
	Card to charge the purchase of the painting. La Kai deposited the credit card
	sales slip the same day and received immediate credit in the company's checking account.
	The bank charged a 2% fee. The painting was sold for:	$2,310	($1,540	cost)
Jun.6	Received payment from Likert Antiques for its June 1 purchase.
Jun.7	Received a check from United Merchants for the June 2 sale.

Required Prepare journal entries to record the La Kai Gallery transactions. (Round to the nearest dollar.)

General Journal
Date	Description	Debit	Credit
June 1	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	To record credit sales revenue.
June 1	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	To record cost of goods sold.
June 2	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	Credit Card Fee Expense	Answer	Answer
	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	To record credit card sales.
June 2	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	To record cost of goods sold.
June 4	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	To record cash sales.
June 4	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	To record cost of goods sold.
June 5	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	Credit Card Fee Expense	Answer	Answer
	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	To record credit card sales.
June 5	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	To record cost of goods sold.
June 6	Cash	Answer	Answer
	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	To record collection from Likert Antiques.
June 7	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	AnswerAccounts Receivable - Likert AntiquesAccounts Receivable - United MerchantsCashCost of Goods SoldCredit Card Fee ExpenseInventorySales DiscountsSales Revenue	Answer	Answer
	To record collection from United Merchants.

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