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A company reported the following transactions. Journalize transactions that should be recorded in a purchases journal. March 4 Sold merchandise costing $1,220 to Lee for

A company reported the following transactions. Journalize transactions that should be recorded in a purchases journal. March 4 Sold merchandise costing $1,220 to Lee for $3,100 on credit, terms 1/30, n/60. March 5 Purchased merchandise on credit from Long Company for $18,100 on terms n/25. March 12 Purchased office supplies for $420 from Thomas Company on credit, terms n/30. March 15 Purchased $400 of merchandise from Walker Company on credit, terms n/45. March 22 Purchased equipment from Davis for $122 cash. March 26 Paid monthly salary of $5,000 to Smith by issuing Check Number 100

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