h Ali Co. uses a sales journal, purchases journal, cash receipts journal, cash payments...
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Ali Co. uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the cash receipts journal. Nov. 3 The company purchased $2,400 of merchandise on credit from Hart Co., terms n/20. 7 The company sold merchandise costing $633 to J. Than for $696 on credit, subject to a $14 sales discount if paid by the end of the month. 9 The company borrowed $3,275 cash by signing a note payable to the bank. 13 J. Ali, the owner, contributed $4,575 cash to the company. 18 The company sold merchandise costing $101 to B. Cox for $180 cash. 22 The company paid Hart Co. $2,400 cash for the merchandise purchased on November 3. 27 The company received $682 cash from J. Than in payment of the November 7 purchase. 30 The company paid salaries of $1,200 in cash. CASH RECEIPTS JOURNAL Cost of Goods Other Cash Dr. Receivable. Sales Cr. Discount Dr. Sold Dr. F. Accounts Cr. Inventory Cr. Sales Accounts Account Credited Date
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