$5 Exercise 7-3 Cash receipts journal LO P2 1111 points eBook H Print References All 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. The company purchased $4,608 of merchandise on credit from Hart Co., terms n/20. 7 The company sold merchandise costing $1,214 to 3. Than for $1,334 on credit, subject to a $27 sales discount if paid by the end of the month. 9 The company borrowed $2,500 cash by signing a note payable to the bank. 13 3. Ali, the owner, contributed $3,800 cash to the company. 18 The company sold merchandise costing $193 to B. Cox for $344 cash. 22 The company paid Hart Co. $4,600 cash for the merchandise purchased on November 3. 27 The company received $1,307 cash from 3. Than in payment of the November 7 purchase. 30 The company paid salaries of $2,300 in cash. Date Account Credited Cash Dr. Discount Dr. Sales CASH RECEIPTS JOURNAL Accounts Receivable. Sales Cr. Cr Other Accounts Cr Cost of Goods Sold Dr. Inventory Cr.