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. Noy. 3 The company purchased $4,900 of merchandise on credit froat Hart co., terms n/20. 7 The company sold merehandise costing $1,293 to J. Than for $1,421 on eredit, subject to a $28 sales discount if paid by the end of the month. 9 The company borrowed $3,250 cash by signing a note payable to the bank. 13 J. Al1, the owner, contributed $4,550 cash to the company. 18 The corpany sold, merchandise costing $206 to B. Cox tor $367 cash. 22 The company paid Hart Co. $4,900 cash for the merchandise purchased on November 3 . 27 The company received $1,393 cash from J. Than in payment of the November 7 purchase. 30 the company paid salaries of $2,450 in cash