Problem: Hutton Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursement journal, and a general journal. The following transactions occur in the month of March:
Mar. 2, Sold merchandise costing $300 to B. Fager for $450 cash, invoice no 5703.
5, Purchased $2,300 of merchandise on credit from Marsh Corp.
7, Sold merchandise costing $800 to J. Dryer for $1,150, terms 2_10, n_30, invoice no. 5704.
8, Borrowed $8,000 cash by signing a note payable to the bank.
12, Sold merchandise costing $200 to R. Land for $320, terms n_30, invoice no. 5705.
16, Received $1,127 cash from J. Dryer to pay for the purchase of March 7.
19, Sold used store equipment for $900 cash to Malone, Inc.
25, Sold merchandise costing $350 to T. Burton for $550, terms n_30, invoice no. 5706.
Prepare headings for a sales journal. Journalize the March transactions that should be recorded in this sales journal.