Biloxi Gifts uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. The transactions are given below: November 12 The owner, T. Biloxi, contributed an automobile worth $40,000 to the company. November 16 The company sold $2,350 of merchandise (cost is $1,260 ) on credit to K. Myer, terms n/30. 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. Complete this question by entering your answers in the tabs below. Journalize transactions that should be recorded in the general journal. Note: If the transaction is not recorded in the general journal, select "Not recorded in general journal" in the first account field. Journal entry worksheet The company purchased $4,900 of merchandise on credit from the Midland Company, terms 2/10,n/30. Note: Enter debits before credits. Biloxi Gifts uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. The transactions are given below: November 2 The company purchased $4,900 of merchandise on credit from the Midland Company, terms 2/10, n/30. November 12 The owner, T. Biloxi, contributed an automobile worth $40,000 to the company. November 16 The company sold $2,350 of merchandise (cost is $1,260 ) on credit to k. Myer, terms n/30. November 19 Biloxi granted K. Myer an allowance (price reduction) of $405 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. Complete this question by entering your answers in the tabs below. Identify the journal where each of the following transactions should be recorded