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Recond transactions in cash receipts and cash payments journal. E7.7 (LO 3) R. Lawrence Luggage uses special journals and a general journal. The following trans actions occurred during May 2020. Muy 1 R. Lawrence invested 40.000 cash in the business. 2 Sold merchandise to Crapsky Co, for 6,300 cash. The cost of the merchandise sold was 4.200 3 Purchased merchandise for 7.700 from J. Mosca using check no. 101. 14 Paid salary to K. Eyre 700 by issuing check no. 102. 16 Sold merchandise on account to Stanton Company for 900, terms 1/30. The cost of the merchandise sold was 630, 22 A check of 9.000 is received from C. Galatoire in full for invoice 101: no discount given. Instructions a. Prepare a multiple-column cash receipts journal (see Illustration 7.9) and a multiple-column cash payments journal (see Illustration 7.16). (Use page I for each journal.) b. Record the transaction(s) for May that should be journalized in the cash receipts journal and cash payments journal