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. The net cash receipts from sales are immediately deposited in the seller's bank account. MasterCard charges a 5% fee.
2. Sold $ 5,000 of merchandise that cost $ 3,000, on an assortment of credit cards. Net cash receipts are received 5 days later, and a 4% fee is charged.