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 $3,690 of merchandise on credit from Hart Co., terms w/20. 7 The company sold merchandise costing $792 to 3. Than for $870 on credit, subject to a $17 sales discount if paid by the end of the month 9 The company borrowed $3,000 cash by signing a note payable to the bank. 13. Ali, the owner contributed $4,300 cash to the company. 18 The company sold merchandise costing $126 to B. cox for $224 cash. 22 The company paid Hart Co. $3,000 cash for the merchandise purchased on November 3. 27 The company received $853 cash from 1. Than in payment of the November 7 purchase. 30 The company paid salaries of $1,500 in cash. CASH RECEIPTS JOURNAL Accounts Sales Receivable. Sales Cr. Discount Dr. Cr Account Credited Date Cash Dr. Other Accounts Cr Cost of Goods Sold Dr. Inventory C. Nov. 09 Notes payable