4 QS 7-7 Cash receipts journal LO P2 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 journal May 1-C. Li, the owner, contributed $9,400 cash to the company 7 The company purchased $5,400 of merchandise on credit from Gonez, terms /38. The company sold merchandise costing $500 on credit to E. Janes for $600, teres 0/38, 15 The company borrowed $2,000 cash by signing a note payable to the bank 18 The company received $600 cash from E. Janes in payment of the May 9 purchase. 24 The company sold merchandise casting $250 to 8. Ces for $300 cash. CASH RECEIPTS JOURNAL Date Sales Discount Account Credited i Cash O Accounts Receivable. Cr. Sales Co. Other Accounts Cost of Goods Sold Cr Dr. feventory Cr Check my work