Financial Accounting

Accounting Information System Ali Co. uses a sales journal, a purchases journal, a cash receipts journal, a cash payments journal, and a general journal. The following transactions occur in the month of November: Nov 3 Purchased $4,300 of merchandise on credit from Hart Co., terms n/20. Nov 7 The company sold merchandise costing $840 to J. Than for $1,100 on credit, subject to a $22 sales discount if paid by the end of the month. Nov 9 The company borrowed $4,000 cash by signing a note payable to the bank. Nov 13 J. Ali, the owner, contributed $2,000 cash to the company. Nov 18 The company sold merchandise costing $300 to B. Cox for $450 cash. Nov 22 The company paid Hart Co. $4,300 for the merchandise purchased on November 3. Nov 27 The company received $1,078 from J. Than in payment of the November 7 purchase. Nov 30 The company paid salaries of $1,550 in cash. Journalize the November transactions that should be recorded in the cash receipts journal assuming the perpetual inventory system is used. prNT. Vonr axcel iournal should be set-uD as follows