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Moeder Co. uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur
Moeder Co. uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of November. Nov. 3 The company purchased $4,000 of merchandise on credit from Hargrave Co., terms n/20. 7 The company sold merchandise costing $1,056 on credit to J. York for $1,160, subject to an $23 sales discount if paid by the end of the month. 9 The company borrowed $2,800 cash by signing a note payable to the bank. 13 J. Emling, the owner, contributed $4,100 cash to the company. 18 The company sold merchandise costing $168 to B. Box for $299 cash. 22 The company paid Hargrave Co. $4,000 cash for the merchandise purchased on November 3. 27 The company received $1,137 cash from J. York in payment of the November 7 purchase. 30 The company paid salaries of $2,000 in cash. Journalize the November transactions that should be recorded in the cash receipts journal assuming the perpetual inventory system is used
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