Journaling Cash Payments Lakeview Industries uses a cash payments journal. Prepare a cash payments journal using the same format and account titles as illustrated in the chapter. Record the following payments for merchandise purchased: Sept. 5 Issued Check No. 318 to Clausen Corp. for merchandise purchased August 28, 56,200, terms 2/10, n/30. Payment is made within the discount period. 12 Issued Check No. 319 to McGonigle Co. for merchandise purchased September 2, $9,000, terms 1/10, n/30. A credit memo had previously been received from McGonigle Co. for merchandise returned, $400. Payment is made within the discount period after deduction for the return dated September 8. 19 Issued Check No. 320 to Elite Systems for merchandise purchased August 19, $4,700, terms n/30, 27 Issued Check No. 321 to Glenn Falls for merchandise purchased September 17, 57,100, terms 2/10, 1/30. Payment is made within the discount period