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Exercise 7-7 Identifying journal of entry LO C2 Marx Supply uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal,

Exercise 7-7 Identifying journal of entry LO C2

Marx Supply 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 April. Identify the journal in which each transaction should be recorded.

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Journal Date Transaction April 3 Purchased merchandise for $2,950 on credit from Seth, Inc., terms 2/10, n/30. 9 Issued check no. 210 to Kitt Corp. to buy store supplies for $650. 12 Sold merchandise costing $500 on credit to C. Myrs for $770, terms n/30. 17 Issued check no. 211 for $1,400 to pay off a note payable to City Bank. 20 Purchased merchandise for $4,500 on credit from Lite, terms 2/10, n/30. 28 Issued check no. 212 to Lite to pay the amount due for the purchase of April 20 less the discount. 29 Paid salary of $1,800 to B. Dock by issuing check no. 213. 30 Issued check no. 214 to Seth, Inc., to pay the amount due for the purchase of April 3

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