Accounti cribe the three posted transactions. entifying errors in special journals Transaction Recording a. Henry Associates paid $490 on account for an earlier Purchases journal purchase of merchandise inventory b. Recorded depreciation expense for the month. c. Collected interest revenue. d. Sold merchandise inventory on account. e. Issued check no. 535 for purch Cash payments Cash receipts journal Cash receipts journal Purchases journal journal ase of merchandise inventory. f. Returned damaged inventory that was purchased on Purchases journal account. Sales journal Sold merchandise inventory for cash. g. For each transaction listed, identify the recording error and indicate the journal that should have been used