Finer Company 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. Date Transaction Journal May 2 Sold merchandise costing $380 to H. Durant for $560 cash, invoice number 3029. May 5 Received $1,225 cash from J. Dryer to pay for the purchase of May 7. May 7 Sold used store equipment (noninventory) for $900 cash to Golf, Incorporated. May 8 The company paid salaries of $2,450 in cash. May 12 Paid Liggins $6,000 cash for the merchandise purchased on May 3. May 16 Paid salary of $6,800 to J. Terry by issuing check number 543. May 19 Purchased $2,400 of merchandise on credit from Daring Corporation terms n/60. May 25 Purchased $830 of store supplies from Bryce Company on credit terms n/45. Cash receipts journal Purchases journal Cash payments journal Sales Journal