Marx Supply 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. Journal Date Transaction April 3 The company borrowed $31,330 cash by signing a note payable to First Business Bank 9 Purchased $8,590 of merchandise on credit from Kellogs, terms n/20. 12 Sold merchandise costing $920 to Wade Co. for $1,210 cash, invoice no. 5812. 17 Sold used equipment (noninventory) for $2,842 cash to Monroe Corp. 20 The company paid Henson Co. $1,590 cash for the merchandise purchased on March 27. 28 Sold merchandise costing $2,380 to J. Verland for $3,250 on credit, terms 1/10 29 Paid Kellogs $8,590 cash for the merchandise purchased on April 9. 30 The company paid employee wages of $5,020 in cash