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Biloxi Gifts uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. The transaction are given below: Nov. 2 The
Biloxi Gifts uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. The transaction are given below: Nov. 2 The company purchased $5,100 of merchandise on credit from the Midland Co., terms 2/10, n/30. 12 The owner, T. Biloxi, contributed an automobile worth $42,000 to the company. 16 The company sold $2,450 of merchandise (cost is $1,300) on credit to K. Myer, terms n/30. 19 Biloxi granted K. Myer an allowance (price reduction) of $425 for merchandise sold on November 16. Biloxi credited accounts receivable for that amount. Journalize transactions that should be recorded in the general journal. Identify the journal where each of the following transactions should be recorded. General Journal subsidiary ledger Journalize transactions that should be recorded in the general journal. (If the transaction is not recorded in the general journal, select "Not recorded in general journal" in the first account field.) View transaction list Journal entry worksheet The company purchased $5,100 of merchandise on credit from the Midland Co., terms 2/10, n/30. Note: Enter debits before credits. Date General Journal Debit Credit Nov. 2
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