Journalize the entries for the following transactions. refer to the chart of accounts for exact wording of account titles. (note: the company uses a clearinghouse to take care of all bank as well as non-bank credit cards used by its customers. ) mar. 1 sold merchandise for cash, $116,300. the cost of the merchandise sold was $72,000. 10 sold merchandise on account, $755,000. the cost of the merchandise sold was $400,000. 12 sold merchandise to customers who used mastercard and visa, $1,950,000. the cost of the merchandise sold was $1,250,000. 17 sold merchandise to customers who used american express, $330,000. the cost of the merchandise sold was $230,000. 31 paid $81,500 to national clearing house credit co. for service fees for processing mastercard, visa, and american express sales.