(Answered) : Credit Card Sales The Bedroom Store accepts cash, personal checks, and two credit cards when customers buy merchandise. With the

Credit Card Sales The Bedroom Store accepts cash, personal checks, and two credit cards when customers buy merchandise. With the Great American Bank Card, The Bedroom Store receives an immediate deposit in its checking account when credit card sales slips are deposited at the bank. The bank charges a five percent fee. With the United Merchants Card, The Bedroom Store mails the credit card sales slips to United Merchants’ regional processing center each day. United Merchants accumulates these slips for three days and then mails a check to The Bedroom Store, after deducting a two percent fee. Prepare journal entries