what's the full model number (top number) on the plate below the handle?
it doesn't matter a too much, and it may be wrong, but it occasionally is useful to look at the specific schematic for the game vs. a random 742A schematic.
having said that, the circuit for a cherry pay is usually grey wire 90 on the reel #1 wiper board feeding red/yellow wire 13 going to the 2 trace on the payout counter board.
if single and double cherry wins don't work, the most likely problem is the wiper connection on the reel #1 board is bad due to cruddy rivets or the board is slightly warped and the wiper fingers aren't pressing onto the rivets well enough. Don't overdo the wiper finger pressure as that will make the wiper arm movement sluggish.
you can find a diagram of the reel wiper wiring in
https://bingo.cdyn.com/slots/742A-1J that will show you which rivets are the cherry win on reel #1 ... it's the w-1041-xxx file and it's too big to post here. That diagram is looking at the wiring side of the board, so you have to mentally flip it around when looking at the wiper side.
it's less likely to be a problem with the plug connection if neither the 2 (or maybe 3 depending on model) nor 5 pay works, but it could be crud/damage on the payout counter copper traces.