Chapter 7- Exercises 6 Saved Help Save& Exit Submit Check my work 5 Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal, Identify the journal in which each of the transactions should be recorded. 2 points Date Transaction Journal May 01Purchased $11,900 of merchandise on credit from Krause, Inc., terms n/30. Skipped 08 Sold merchandise costing $2,700 to G. Seles for $4,500 on credit subject to a $72 sales discount if paid May May 14Purchased $420 of store supplies from Chang Company on credit, terms n/30 May 17 Purchased $440 of office supplies on credit from Monder Company, terms n/30 May 24 Sold merchandise costing $850 to D. Air for $1,280 cash. May 28 Purchased store supplies from Porter's for $126 cash. May 29 Paid Krause, Inc. 11,900 cash for the merchandise purchased on May 1. by the end of the month. eBook Print References