Exercise 7-3 (Algo) Cash receipts journal LO P2 Ali Company 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. November 3 The company purchased $4,600 of merchandise on credit from Hart Company, terms n/20. November 7 The company sold merchandise costing $1,214 to J. Than for $1,334 on credit, subject to a $27 sales discount if paid by the end of the month. November 9 The company borrowed $3,375 cash by signing a note payable to the bank. November 13J. Ali, the owner, contributed $4,675 cash to the company. November 18 The company sold merchandise costing $193 to B. Cox for $344 cash. November 22 The company paid Hart Company $4,600 cash for the merchandise purchased on November 3 . November 27 The company received \$1,307 cash from J. Than in payment of the November 7 purchase. November 30 The company paid salaries of $2,300 in cash