Question: QS 7 - 1 1 ( Algo ) Entries in the general journal LO P 1 , P 2 , P 3 , P 4
QS Algo Entries in the general journal LO P P P P
Biloxi Gifts uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. The transactions are given below:
November The company purchased $ of merchandise on credit from the Midland Company, terms nNovember The owner, T Biloxi, contributed an automobile worth $ to the company.November The company sold $ of merchandise cost is $ on credit to K Myer, terms nNovember Biloxi granted K Myer an allowance price reduction of $ for merchandise sold on November 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.
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