BE7.8 (LO 3) Villar Co. uses special journals and a general journal. Identify the journal in which each of the following transactions is recorded. a. Purchased equipment on account. b. Purchased merchandise on account. c. Paid utility expense in cash. d. Sold merchandise on account. VIII. The income statement and balance sheet columns of Pine Company's work sheet reflect the following totals: (9 points) Balance Sheet Income Statement Cr. $100,000 Dr. $20,000 Dr. Cr. $140,000 Totals $60,000 Net Income/Loss Totals