Exercise 7-9 Recording transactions in the Mand N Sporting Goods reported these selected transactions for the month of July cash receipts journal sales journal and general journal . 9 Issued invoice no. 159 for a sale on account to Evans Company, $4,600, terms 1/10, n/30. The cost of the merchandise was $2,700. Issued invoice no. 160 for a sale on account to Sails and Boats, $5,700, terms 2/15, n/45. The cost of the merchandise was $2,450 Sold $3,000 of merchandise to Bruce Services for cash. The cost of the merchandise was $1,250. Owner invested $3,400 into the business. Collected $580 from Lucille Adams on account Issued a credit memo to Sails and Boats for $2,800 for merchandise returned. The cost of the returned merchandise was $1,200. 10 12 16 18 20 Required Record the above transactions in either the sales journal, the cash receipts journal, or the general journal, using Exhibits 7-6 and 7-8 as templates. M and N Sport- ing Goods uses a perpetual inventory system