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Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the...

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Accounting

Sales-Related Transactions, Including the Use of Credit Cards
Journalize the entries for the following transactions: (If an amount box does not require an entry, leave it blank.)
a. Sold merchandise for cash, $25,000. The cost of the goods sold was $17,500.(Record the sale first.)
b. Sold merchandise on account, $98,000. The cost of the goods sold was $58,800.(Record the sale first.)
c. Sold merchandise to customers who used MasterCard and VISA, $475,000. The cost of the goods sold was $280,000.(Record the sale first.)
d. Sold merchandise to customers who used American Express, $63,000. The cost of the goods sold was $39,000.(Record the sale first.)
e. Received and paid an invoice from National Clearing House Credit Co. for $13,450 representing a service fe paid for processing MasterCard, VISA, and American Express sales.
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