Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system).

Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system).
  

1. Sold $20,000 of merchandise, that cost $15,000, on MasterCard credit cards. MasterCard charges a 5% fee.
2. Sold $5,000 of merchandise, that cost $3,000, on an assortment of bank credit cards. These cards charge a 4% fee.

1-a.
Credit card expense: $20,000 × 5% = $1,000.
 
2-a.
Credit card expense: $5,000 × 4% = $200.

Thanks