QS 7-8 Purchases journal LO P3 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 $14,600 of merchandise on credit from Krause, Inc., teras n/30. Purchased $330 of store supplies from Chang conpany on credit, terms n/30. 17 Purchased $350 of office supplies on credit from Monder company, terms n/30. 24 Pold merchandise costing $490 to D. Air for $920 cash. 29 Paid Krause, Ince applies from Porter's for $108 cash