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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. The company purchased $3,200 of merchandise on credit from Hart Co., terms n/20. The company sold merchandise costing $840 on credit to J. Than for $1,000. subject to a $20 sales discount if paid by the end of the month. The company borrowed $3,750 cash by signing a note payable to the bank. J. Ali, the owner, contributed $5,000 cash to the company. The company sold merchandise costing $250 to B. Cox for $330 cash. The company paid Hart Co. $3,200 cash for the merchandise purchased on November 3. The company received $980 cash from J. Than in payment of the November 7 purchase. The company paid salaries of $1,650 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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