M and N Sporting Goods reported these selected transactions for the month of July:
Jul. 9 Issued invoice no. 159 for a sale on account to Evans Company, $4,600, terms 1/10, n/30. The cost of the merchandise was $2,700.
10 Issued invoice no. 160 for a sale on account to Sails and Boats $5,700, terms 2/15, n/45. The cost of the merchandise was $2,450.
12 Sold $3,000 of merchandise to Bruce Services for cash. The cost of the merchandise was $1,250.
16 Owner invested $3,400 into the business.
18 Collected $580 from Lucille Adams on account.
20 Issued a credit memo to Sails and Boats for $2,800 for merchandise returned. The cost of the returned merchandise was $1,200.
Required
Record the above transactions in either the sales journal, the cash receipts journal, or the general journal, using Exhibits 7-6 and 7-8 as templates. M and N Sporting Goods uses a perpetual inventory system.