QS 7-11 (Algo) Entries in the general journal LO P1, P2, P3, P4 Biloxi Gifts uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. The transactions are given below: November 2 The company purchased $4,500 of merchandise on credit from the Midland Company, terms 2/10, n/30. November 12 The owner, T. Biloxi, contributed an automobile worth $36,000 to the company. November 16 The company sold $2,150 of merchandise (cost is $1,180) on credit to K. Myer, terms n/30. November 19 Biloxi granted K. Myer an allowance (price reduction) of $365 for merchandise sold on November 16. Biloxi credited accounts receivable for that amount. Journalize transactions that should be recorded in the general journal. Identify the journal where each of the following transactions should be recorded. Complete this question by entering your answers in the tabs below. General Journal Subsidiary Ledger Journalize transactions that should be recorded in the general journal. (If the transaction is not recorded in the general journal, select "Not recorded in general journal" in the first account field.) View transaction list Journal entry worksheet The company purchased $4,500 of merchandise on credit from the Midland Company, terms 2/10, n/30. Prey 1 of 3 I! Next > 1 The company purchased $4,500 of merchandise on credit from the Midland Company, terms 2/10, n/30. 2 The owner, T. Biloxi, contributed an automobile worth $36,000 to the company. 3 The company sold $2,150 of merchandise (cost is $1,180) on credit to K. Myer, terms n/30. 4 Biloxi granted K. Myer an allowance (price reduction) of $365 for merchandise sold on November 16. Biloxi credited accounts receivable for that amount. Complete this question by entering your answers in the tabs below. General Journal Subsidiary Ledger Identify the journal where each of the following transactions should be recorded. Journal Transaction November 2 The company purchased $4,500 of merchandise on credit from the Midland Company, terms 2/10, n/30. November 12 The owner, T. Biloxi, contributed an automobile worth $36,000 to the company November 16 The company sold $2,150 of merchandise (cost is $1,180) on credit to K. Myer, terms n/30. November 19 Biloxi granted K. Myer an allowance (price reduction) of $365 for merchandise sold on November 16. Biloxi credited accounts receivable for that amount