accounting practice that uses special journals and perpetual inventory. Ignore GST for these examples. SJ Sales Journal PJ Purchases Journal CP Cash Payments Journal CR Cash Receipts Journal GJ General Journal This first transaction is completed as an example. Purchased inventory on credit from } Lee ii. Paid $800 cash to R Jones (a creditor) to pay an account Fiji." Credit sales of $1,000 to M Luce, cost of goods sold $500 . iv.- Owner paid for personal expenses from business account C V. . Sales of $500 for cash, cost of goods sold $250 vic Commercial rent of $600 paid by EFT vii. Purchased Motor Vehicle on credit from F Ford for 25,000 viii, Owner took inventory for own use Accounts to Debit & Credit Journal Key principle type