Exercise 7-4 Identifying journal of entry LO P1, P2, P3, P4 33.33 points All Co. uses a sales Journal, purchases Journal, cash receipts journal, cash payments journal, and general Journal. Identify the journal in which each of the transactions should be recorded. Journal Date Transaction Nov. 1Purchased $3,180 of store supplies from Pitt Company on credit, torma no. 3 Sold merchandise costing $4,200 to J. Spruce for $5,360 cash 4 Purchased $7,670 of merchandise on credit from Sanders Corp. terms 1/30 11 Sold merchandise costing $2,842 to L. Ersan for $3,340 on credit, terms 1/30, Invoice no 6721 17 Paid salaries of $5,850 in cash. Sold merchandise costing $4,860 to Hope for $6,000 on credit subject to a $150 sales discount paid by the end of next month 24 Issued check no. 231 to Davis Corp. to buy office supplies for $630 27 Purchased merchandise for $8,420 on credit from Kidd, terma 2/10,45 Prey 1 of 3 Next >