Li Company used 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.

Li Company 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 joumal, May 1 C. Li, the owner, contributed $12,2e0 cash to the conoany. May 7 The company purchased $5,200 of merchandise on credtt fron cooez, teras n/30. May 9 The company sold nerchundise costing $1,200 to E. Janes for $1,390 on credit, teras n/10. May is The corpany borrewed $9,600 cash by sighing a note payable to the bank. May is The company received $1,3e0 cash tros E., Janes in paysent of the May 9 purchase. May 24 The company sold merehandise costing sqse to 6 . Cox for $1,600 cash