Exercise 7-1 (Algo) Sales journal LO P1 Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. May 2 Sold merchandise costing $350 to B. Facer for $525 cash, invoice number 5703 . May 5 Purchased $2,450 of merchandise on credit from Marchant Corporation. May 7 Sold merchandise costing $945 to J. Dryer for $1,370, terms 1/10,n/30, invoice number 5704 . May 8 Borrowed $8,000 cash by signing a note payable to the bank. May 12 Sold merchandise costing $236 to R. Lamb for $378, terms n/30, invoice number 5705 . May 16 Received \$1,356 cash from J. Dryer to pay for the purchase of May 7 . May 19 Sold used store equipment (noninventory) for $900 cash to Golf, Incorporated. May 25 Sold merchandise costing $400 to T. Taylor for $628, terms n/30, invoice number 5706 . Journalize the following transactions that should be recorded in the sales journal