finer company uses a sales journal, a purchase journal, a cash receipt journal, a cash disbursements journal, and a general journal. journalism the May transaction that should be recorded in the sales journal assuming the perpetual inventory system is used

Saved Built Assignments Help Save & 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 $300 to B. Facer for $450 cash, invoice no. 5703. 5 Purchased $2,200 of merchandise on credit from Marchant Corp. 7 Sold merchandise costing $810 to 3. Dryer for $1,175, 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 $203 to R. Lamb for $325, terms n/30, invoice no. 5705. 16 Received $1,163 cash from ). Dryer to pay for the purchase of May 7. 19 Sold used store equipment for $900 cash to Golf, Inc. 25 Sold merchandise costing $350 to T. Taylor for $550, terms n/30, invoice no. 5706. perpetual Inventory system is used Journalize the May transactions that should be recorded in the sales journal assuming the SALES JOURNAL Accounts Receivable Dr. Sales Cr. Cost of Goods Sold Dr. Inventory Cr. Invoice Number Account Debited Date May 02