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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
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. 3 The company purchased $3,800 of merchandise on credit fron Hart Co., terms n/20. 7 The company sold merchandise costing $1,003 to J. Than for $1,102 on credit, subject to a $22 sales discount if paid by the end of the month. 9 The company borrowed $2,875 cash by signing a note payable to the bank. 13 J. Ali, the owner, contributed $4,175 cash to the company. 18 The company sold merchandise costing $160 to B. Cox for $285 cash. 22 The company paid Hart Co. $3,800 cash for the merchandise purchased on November 3. 27 The company received $1,080 cash from J. Than in payment of the November 7 purchase. 30 The company paid salaries of $1,900 in cash. CASH RECEIPTS JOURNAL Sales Accounts Discount Dr. Receivable. Sales Cr. Cr. Account Credited Other Accounts Cr. Date Cash Dr. Cost of Goods Sold Dr. Inventory Cr
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