Exercise 7-3 Cash receipts journal LO P2 Ali 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 $2,700 of merchandise on credit from Hart Co., termn/2e. 7 The company sold merchandise costing 5713 to 3. Than fon 5703 on credit, subject to a $16 sales discount if paid by the end of the month. 9 The company borrowed $3,275 cash by signing a note payable to the bank. 13 J. All, the owner, contributed $4,575 cash to the company 18 The company sold merchandise costing $112 to B. Cox for $201 cash. 22 The company paid Hart Co. $2,700 cash for the merchandise purchased on November 3. 27 The company received $767 cash from 2. Than in payment of the November 7 purchase 30 The company paid salaries of $1,350 in cash. 1 Account Credited CASH RECEIPTS JOURNAL Sales Accounts Other Cash Dr. Discount Dr. Receivable. Sales Cr. Cr. Accounts Cr Date Cost of Goods Sold Dr. Inventory C Terences