Adjusting entry for depreciation. Purchase of merchandise inventory on account. Purchase of equipment for cash. Collection on account from customers. Purchase of office equipment on credit. 1. Sales Journal Sales discount taken on 2. Purchases Journal goods sold on credit. 3. Cash Receipts Journal Sales of merchandise inventory on account. 4. Cash Payments Journal Return of merchandise purchased on credit. 5. General Journal Sales of merchandise for cash. Payment of creditors on account. Payment of supplies in advance. Close income summary to owner's capital