Exercise 7-1 Sales journal-perpetual LO P1

Finer Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May.

May 2	Sold merchandise costing $340 to B. Facer for $510 cash, invoice no. 5703.
5	Purchased $2,600 of merchandise on credit from Marchant Corp.
7	Sold merchandise costing $918 to J. Dryer for $1,331, terms 1/10, n/30, invoice no. 5704.
8	Borrowed $8,000 cash by signing a note payable to the bank.
12	Sold merchandise costing $230 to R. Lamb for $368, terms n/30, invoice no. 5705.
16	Received $1,318 cash from J. Dryer to pay for the purchase of May 7.
19	Sold used store equipment for $900 cash to Golf, Inc.
25	Sold merchandise costing $390 to T. Taylor for $612, terms n/30, invoice no. 5706.

Journalize the May transactions that should be recorded in the sales journal assuming the perpetual inventory system is used.