Exercise 7-3 Cash receipts journal LO P2 All 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 $2,400 of merchandise on credit from Hart Co., terms n/20. 7 The company told merchandise costing $633 to J. Than for $696 on credit, subject to a $14 sales discount it paid by the end of the month. 9 The company borrowed $3,400 cash by signing a note payable to the bank. 13 J. Ali, the owner, contributed $4,700 cash to the company. 18 The company sold merchandise costing $101 to B. Cox for $180 cash. 22 The company paid Hart Co. $2,400 cash for the merchandise purchased on November 3. 27 The company received $682 cash from J. Than in payment of the November 7 purchase. 30 The company paid salaries of $1,200 In cash. CASH RECEIPTS JOURNAL Accounts Sales Cash Dr. Discount Dr. Receivable. Sales Cr. Cr Date Account Credited Other Accounts Cr. Cost of Goods Sold Dr. Inventory Cr