Ali Co. uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of November. M. The company purchased $4,700 of merchandise on credit from Hart Co., terms Nov. 3 n/20. 7 The company sold merchandise costing $1,240 on credit to J. Than for $1,363, subject to a $27 sales discount if paid by the end of the month. 9 The company borrowed $3,225 cash by signing a note payable to the bank. 13 J. Ali, the owner, contributed $4,525 cash to the company. 18 The company sold merchandise costing $197 to B. Cox for $351 cash. The company paid Hart Co. $4,700 cash for the merchandise purchased on 24 November 3. The company received $1,336 cash from J. Than in payment of the November 7 2' purchase. 30 The company paid salaries of $2,350 in cash. Journalize the November transactions that should be recorded in the cash receipts journal assuming the perpetual inventory system is used. Journalize the November transactions that should be recorded in the cash receipts journal assuming the perpetual inventory system is used. CASH RECEIPTS JOURNAL Accounts Cost of Goods Sales Other Receivable. Sales Cr. Sold Dr. Discount Dr. Accounts Cr. Inventory Cr. Cr. Account Credited Date Cash Dr