Using the perpetual inventory system, journalize the entries for the following selected transactions:
(a)Sold merchandise on account for $12,000, terms n/30. The cost of the goods sold was $6,500.(b)Sold merchandise to customers who used MasterCard and VISA, $9,500. The cost of the goods sold was $5,300.(c)Sold merchandise to customers who used American Express, $2,900. The cost of the goods sold was $1,700.(d)Paid an invoice from First National Bank for $385, representing a service fee for processing MasterCard and VISA sales.(e)Paid an invoice from American Express for $75 fee.

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The Answer of Using the perpetual inventory system, journalize the entries for the following selected transactions:
(a)Sold merchandise on account for $12,000, terms n/30. The cost of the goods sold was $6,500.(b)Sold merchandise to customers who used MasterCard and VISA, $9,500. The cost of the goods sold was $5,300.(c)Sold merchandise to customers who used American Express, $2,900. The cost of the goods sold was $1,700.(d)Paid an invoice from First National Bank for $385, representing a service fee for processing MasterCard and VISA sales.(e)Paid an invoice from American Express for $75 fee.

Using the Perpetual Inventory System, Journalize the Entries for the Following