Question 3 A company entered into the following transactions. Match each transaction with the appropriate journal in which it should be recorded. Purchased merchandise from Able Co. for $2,000 terms 2/10, n/30. Invoice dated August 1. Paid cash to incite Telephone Co. for monthly telephone bill $250, Check No. 758 Sold merchandise on credit to Delta Corp for $3,000, terms, 2/10, n/30, Invoice No. 246. Cost of Goods Sold is $1,740 Received cash payment in full from Delta Corp. for August 5 sale. Recorded cash sales for the month, $9,000. Returned defective inventory purchased on account from Able Co. for $550. A. Purchases journal & General Journal c. Cash payments journal D. Cash receipts journal E. Sales Journal A 6 points