On June 14,2016,Sure-Fit Shoe Store sold $12,000 of merchandise that cost $8,000 and accepted credit cards as payment.Sure-Fit electronically transmitted the credit card forms to the credit card company which charges a 3% fee to handle such transactions.On June 18,2016,Sure-Fit received the proceeds from the credit card company.
a)Prepare the journal entry to record the sale of the merchandise on 6/14/16.
b)Prepare the journal entry to record the credit card proceeds on 6/18/16.

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The Answer of On June 14,2016,Sure-Fit Shoe Store sold $12,000 of merchandise that cost $8,000 and accepted credit cards as payment.Sure-Fit electronically transmitted the credit card forms to the credit card company which charges a 3% fee to handle such transactions.On June 18,2016,Sure-Fit received the proceeds from the credit card company.
a)Prepare the journal entry to record the sale of the merchandise on 6/14/16.
b)Prepare the journal entry to record the credit card proceeds on 6/18/16.

On June 14,2016,Sure-Fit Shoe Store Sold $12,000 of Merchandise That