Peachtree company uses special journals. The following transactions occurred in the month of May.

1. May 1 Purchased $10,100 of merchandise on credit from Krause, Inc., terms n/30
2. May 8 Sold merchandise costing $900 on credit to G. Seles for $1,500 subject to a $30 discount if paid by the end of the month.
3. May 14 Purchased $240 of store supplies from Office Discount on credit, terms n/45
4. May 17 Purchased $260 of office supplies from Moder Office company on credit, terms 2/10, n/30
5. May 24 Sold merchandise costing $400 to D. Air for $650 cash.
6. May 28 Purchased store supplies from Porters Co. for $900 on account.
7. May 29 Paid Krause, Inc. for the merchandise purchased on May 1.
8. May 30 Purchased postage stamps from the post office for $45 cash.

Prepare headings for a purchases journal in excel and journalize ONLY the transactions that should be recorded in the purchases journal. Be sure to total the purchases journal.

Finer Company uses a Sales Journal. The following transactions took place in May:

1. May 2 Sold merchandise costing $300 to B. Facer for $450 on account. Terms n/30.
2. May 5 Purchased $2,400 of merchandise on credit from Marchant Corp.
3. May 7 Sold merchandise costing $800 to J. Dryer for $1,250 on account, terms 2/10, n/30
4. May 12 Sold merchandise costing $200 to R. Lamb for $340 cash.
5. May 16 Received $1,225 from J. Dryer to pay for the purchase of May 7.
6. May 19 Sold used store equipment for $900 on account to Gold, Inc. Terms n/15
7. May 25 sold merchandise costing $500 to T. Taylor for $750. Terms 2/15, n/30

Prepare headings for a sales journal in excel and journalize ONLY the entries that are recorded in a sales journal.