Question: I have posted the second question 3 times and each time the answer is not complete, please complete it now thank you soooo much!!! 2

 I have posted the second question 3 times and each time
the answer is not complete, please complete it now thank you soooo
I have posted the second question 3 times and each time the answer is not complete, please complete it now thank you soooo much!!!

2 Ali 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 $4,790 of merchandise on credit from Hart Co., terms n/20. 7 The company sold merchandise costing $1,240 on credit to 3. Than for $1,363, subject to a $27 sales discount if paid by the end of the month. 9 The company borrowed $3,175 cash by signing a note payable to the bank. 13 3. Ali, the owner, contributed $4,475 cash to the company. 18 The company sold merchandise costing $197 to B. Cox for $351 cash. 22 The company paid Hart Co. $4,700 cash for the merchandise purchased on November 3. 27 The company received $1,336 cash from 3. Than in payment of the November 7 purchase. 30 The company paid salaries of $2,350 in cash. Journalize the November transactions that should be recorded in the cash receipts journal assuming the perpetual inventory system is used Account Cash Dr. Discount Dr Sales Accounts Date able. Sales Cr Other Cost of Goods Discount Dr. Receiv Cr. Accounts Cr. Sold Dr

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!