Lavender Gifts and Novelties use a perpetual inventory system. All sales are on terms of 2/15, n/30. During May, the following selected transactions occurred. Identify into which special journal each transaction should be journalized. Also indicate which sub ledger(s) is (are) affected. Use the list of codes to label your answers. Assume a perpetual inventory system.

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Special Journals Subledgers Sales AR AP y.Mi Cash Receipts.. Cash Disbursements. CR CD Merchandise Inventory No Eftect. NE Date Transaction Journal Subledger(s) May 1 The owner invested an automobile into the business. 2 Sold merchandise and received cash 3Purchased merchandise inventory on credit, terms 1/5, n/30 4 Sold merchandise on credit 5 The customer of May 4 returned defective merchandise; the merchandise was scrapped. 6 Regarding the May 3 purchase, received a credit memorandum trom the supplier granting an allowance 15 Paid mid-month salaries 17 Purchased office supplies on credit; terms n/30 19 Paid for the balance owing on the May 3 purchase 22 Receved payment on the May 4 sale 25 Borrowed money f 29 Purchased merchandise inventory: paid cash 0 Accrued interest revenue 30 Closed all revenue accounts to the Income from the bank Summary account.