Selected accounts from the chart of accounts of Mercer Company are shown below. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 414 Sales Discounts 120 Inventory 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable The cost of a merchandise sold was 60% of the sales price. During January, Mercer completed the following transactions. Jan. 3 Purchased merchandise on account from Gallagher Co. $9,400 4 Purchased supplies for cash $70 4 Sold merchandise on account to Wheeler $6,790, invoice no. 371, terms 1/10, n/30 5 Returned $300 worth of damaged goods purchased on account from Gallagher Co. on January 3. 6 Made cash sales for the week totaling $3,850 8 Purchased merchandise on account from Phegley Co. $4,700 9 Sold merchandise on account to Linton Corp. $8,000, invoice no. 372, terms 1/10, n/30 11 Purchased merchandise on account from Cora Co. $3,640 13 Paid in full Gallagher Co. on account less a 2% discount 13 Made cash sales for the week totaling $6,010 15 Received payment from Linton Corp. for invoice no. 372 15 Paid semi-monthly salaries of $14,800 to employees 17 Received payment from Wheeler for invoice no. 371 17 Sold merchandise on account to Delaney Co. $1,860, invoice no. 373, terms 1/10, n/30 19 Purchased equipment on account from Dozier Corp. $5,630 20 Cash sales for the week totaled $3,550 20 Paid in full Phegley Co. on account less a 2% discount 23 Purchased merchandise on account from Gallagher Co. $7,790 24 Purchased merchandise on account from Atchison Corp. $4,980. 27 Made cash sales for the week totaling $4,810 30 Received payment from Delaney Co. for invoice no. 373 31 Paid semi-monthly salaries of $12,020 to employees 31 Sold merchandise on account to Wheeler $9,180, invoice no. 374, terms 1/10, n/30 Mercer Company uses the following journals. 1. Sales journal. 2. Single-column purchases journal. 3. Cash receipts journal. 4. Cash payments journal. 5. General journal