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Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in

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Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the purchases journal. May 1 Purchased $20,100 of merchandise on credit from Krause, Inc., terms n/30. 8 Sold merchandise costing $1,300 to G. Seles for $3,500 on credit subject to a $50 sales discount if paid by the end of the month. 14 Purchased $440 of store supplies from Chang Company on credit, terms n/30. 17 Purchased $460 of office supplies on credit from Monder Company, terms n/30. 24 Sold merchandise costing $600 to D. Air for $1,250 cash. 28 Purchased store supplies from Porter's for $130 cash. 29 Paid Krause, Inc., $20,100 cash for the merchandise purchased on May 1. Date of Invoice PURCHASES JOURNAL Accounts Terms Payable Cr. Office Supplies Dr. Other Accounts Dr. Date Account Inventory Dr

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