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Saved Help Save & Et All Co. uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal and a general
Saved Help Save & Et All 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 $2,400 of merchandise on credit from Hart Co., terms n/20. 7 The company sold merchandise costing $633 on credit to J. Than for $696, subject to a $14 sales discount if paid by the end of the month. 9 The company borrowed $3,375 cash by signing a note payable to the bank. 13 J. Ali, the owner, contributed $4,675 cash to the company. 18 The company sold merchandise costing $101 to B. Cox for $180 cash. 22 The company paid Hart Co. $2,400 cash for the merchandise purchased on November 3. 27 The company received $682 cash from J. Than in payment of the November 7 purchase. 30 The company paid salaries of $1,200 in cash. Journalize the November transactions that should be recorded in the cash receipts journal assuming the perpetual inventory system is used. 14:30 Account Credited Date CASH RECEIPTS JOURNAL Accounts Sales Cost of Goods Other Receivable. Sales Cr. Sold Dr. Discount Dr. Cr. Accounts Cr. Inventory Cr. Cash Dr
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