Question 7 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 A General Journal 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. 248. 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. B. Purchases journal C. Cash receipts journal D. Cash payments journal E. Sales Journal