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what are the entries Chapter 7- Quiz Saved sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal.
what are the entries
Chapter 7- Quiz Saved sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The Ali Co. uses a following transactions occur in the month of November. 4 Nov. 3 The company purchased $2,5ee of merchandise on credit from Hart Co., terms n/20. 7 The company sold merchandise costing $660 on credit to J. Than for $725, subject to a $15 sales discount if paid by the end of the month. 2.4 9 The company borrowed $2,575 cash by signing a note payable to the bank. 13 J. Ali, the owner, contributed $3,875 cash to the company. 18 The company sold merchandise costing $105 to B. Cox for $187 cash. 22 The company paid Hart Co. $2,500 cash for the merchandise purchased on November 3. 27 The company received $710 cash from J. Than in payment of the November 7 purchase. 30 The company paid salaries of $1,250 in cash. points Journalize the November transactions that should be recorded in the cash receipts journal assuming the perpetual inventory system is used. CASH RECEIPTS JOURNAL Accounts Receivable. Cr. Cost of Goods Sold Dr. Inventory Cr Account Sales niscount Dr. Other Sales Cr. Accounts Cr. Cash Dr. Date CreditedStep by Step Solution
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