Finer Company uses a sales journal, a purchases journal, a cash reciepts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May. Identify the journal in which each transaction should be recorded

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. Identify the journal in which each transaction should be recorded. Date Transaction Journal May 2 Sold merchandise costing $300 to B. Facer for $450 cash, invoice no. 5703 5 Purchased $2,400 of merchandise on credit from Marchant Corp 7 Sold merchandise costing $800 to J. Dryer for $1,250, terms 2/10, n/30, invoice no 5704 8 Borrowed $9,000 cash by signing a note payable to the bank 12 Sold merchandise costing $200 to R. Lamb for $340, terms n/30, invoice no. 5705 16 Received $1,225 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 $500 to T. Taylor for $750, terms n30, invoice no 5706