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All Co. uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general Journal. The following transactions occur
All 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. Nov, 3 The company purchased $3, 400 of merchandise on credit from Hart Co., terms n/20. 7 The company sold merchandise costing $897 on credit to J. Than for $986, subject to a $20 sales discount if paid by the end of the month. 9 The company borrowed $2, 625 cash by signing a note payable to the bank. 13 J. Ali, the owner, contributed $3, 925 cash to the company. 18 The company sold merchandise costing $143 to B. Cox for $255 cash. 22 The company paid Hart Co. $3, 400 cash for the merchandise purchased on November J. 27 The company received $966 cash from J. Than in payment of the November 7 purchase. 30 The company paid salaries of $1, 700 in cash. Journalize the November transactions that should be recorded in the cash receipts journal assuming the perpetual inventory system is used
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