APPLY THE CONCEPTS: General journal The place in which transactions first enter the accounting records is the general journal. Record the following set of transactions in the April 2: Sold inventory on account for $790, cost of merchandise sold was $474. (Record the sale fist and then the cost.) April 10: Bought inventory on account for $200 April 15: Declared and paid dividends with cash for $420 April 17: Settled debt for purchase of inventory from April 10 April 20: Sold land for $870 in cash general journal. page DEDIT CREDIT DATE ACCOUNT TITLE NO