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 $3,100 of merchandise on credit from Hart Co., terms n/20. 7 The company sold merchandise costing $818 to J. Than for $899 on credit, subject to a $18 sales discount if paid by the end of the month. 9 The company borrowed $3,050 cash by signing a note payable to the bank. 13 J. Ali, the owner, contributed $4,350 cash to the company. 18 The company sold merchandise costing $130 to B. Cox for $231 cash. 22 The company paid Hart Co. $3,100 cash for the merchandise purchased on November 3.1 27 The company received $881 cash from J. Than in payment of the November 7 purchase. 30 The company paid salaries of $1,550 in cash. CASH RECEIPTS JOURNAL Accounts Date Account Credited Cash Dr. Sales Discount Dr. Receivable. Sales Cr. Cr. Other Accounts Cr. Cost of Goods Sold Dr. Inventory Cr