Mayfair Co. allows select customers to make purchases on credit.Its other customers can use either of two credit cards: Zisa orAccess. Zisa deducts a 3% service charge for sales on its creditcard. Access deducts a 2% service charge for sales on its card.Mayfair completes the following transactions in June.
| June | | 4 | | Sold $650 of merchandise on credit (that had cost $400) toNatara Morris terms n/30. |
| | 5 | | Sold $6,900 of merchandise (that had cost $4,200) to customerswho used their Zisa cards. |
| | 6 | | Sold $5,850 of merchandise (that had cost $3,800) to customerswho used their Access cards. |
| | 8 | | Sold $4,350 of merchandise (that had cost $2,900) to customerswho used their Access cards. |
| | 13 | | Wrote off the account of Abigail McKee against the Allowancefor Doubtful Accounts. The $429 balance in McKee’s account stemmedfrom a credit sale in October of last year. |
| | 18 | | Received Morris’s check in full payment for the purchase ofJune 4. |
Required:
Prepare journal entries to record the preceding transactions andevents. (The company uses the perpetual inventory system.)(If no entry is required for a transaction/event, select"No journal entry required" in the first accountfield.)
