Chapter 7-ACG1001 4 Biloxi Gifts uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The November transactions are given below 30 Nov. 2 The company purchased $5,100 of merchandise on credit fron the Midland Co., 12 The owner, I. Biloxi, contributed an automobile worth $42,000 to the 16 The company sold 62,450 of merchandise (cost i 41,300) on credit to K. 19 K. Hyer returned 425 of (worthless) merchandise originally purchased on terms 2/10, n/30. company. Myer, terms n/30. November 16 to the company (assume the cost of this merchandise is left in cost of goods sold). Pint Journalize November transactions that should be recorded in the general journalL (If the transaction Is not recorded in the general Journal, select "Not recorded in general Journal" In the first account fleld.) Relerences Journal entry worksheet Co., terms 2/10, n/30.