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v2.cengagenow.com CengageNowvzIOnline teaching and learning resource from Cengage Learning aulator ales-related transactions, including the use of credit cards instr Journal Joumalize the entries for the tollowing transactions. Reter to the Chart of Accounts for exact wording of account ntles. (Note: The company uses a oleaninghouse to take care of all bank as well as non-bank credi cards used by its customers. ) 1 Sold menchandise for cash, $34,200. The cost ot the merchandise sold was $23,940 10 Sold merchandise on account, $255,400. The cost of the merchandise sold was $178,780 12 Sold merchandise to customers who used MasterCard and vISA $168.200. The cost of the menchandise sold was $117,740 17 Sold merchandise to customers who used American Express, $70.500. The oost of the merchandse sold was S49,350 Received and paid an involce from National Clearing House Credit Co. for $8.930, representing a service tee paid for processing MasterCard, VISA, and American Express sales 31 Previous Email Instructor Save and Exit Submit Test for Gradi All work saved

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Journal Entries March 31st General Journal Date Particular Debit Credit 1-Mar Cash $    34,200.00     To Sales $             34,200.00 (Being amount of cash sales) 1-Mar Cost of goods sold $    23,940.00    To Mercendise Inventory $             23,940.00 (Being amount of cost of goods sold) 10-Mar Accounts Receivable $ 255,400.00     To Sales $           255,400.00 (Being amount of on account sales) 10-Mar Cost of goods sold $ 178,780.00      To Mercendise Inventory $           178,780.00 (Being amount of cost of goods sold) 12-Mar Cash $ 166,200.00     To Sales $           166,200.00 (Being amount paid by Visa card) 12-Mar Cost of goods sold $ 117,740.00    To Mercendise Inventory $           117,740.00 (Being amount of cost of goods sold) 17-Mar Cash $    70,500.00     To Sales $             70,500.00 (Being amount paid by American express card) 17-Mar Cost of goods sold $    49,350.00    To Mercendise Inventory $             49,350.00 (Being amount of cost of goods sold) 31-Mar Credit card Expenses $      8,930.00     To Cash $                8,930.00 (Being amount paid to National clearing house credit co. for service fees for processing master card,Visa and American Express card)

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