If a business uses special journals (single purpose sales and purchases journals), which of the following statements are not correct? i. All purchases of inventory on account are recorded in the purchases journal ii. All cash received, except from cash sales, is recorded in the cash receipts journal iii. All payments are recorded in the cash payments journal iv. A general journal is not necessary v. All sales transactions are recorded in the sales journal a. i, ii, iii b. ii, iii, iv c. iv, v d. v e. ii, iv, v