Question: Unit 4 Test Chapter 7 and 8 Saved Help Save & Exit Submit 2 Ali Company uses a sales journal, purchases journal, cash receipts journal,

Unit 4 Test Chapter 7 and 8
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Ali 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.
November 3 The company purchased $4,500 of merchandise on credit from Hart Company, terms n20.
November 7 The company sold merchandise costing $1,188 to J. Than for $1,305 on credit, subject to a $26 sales discount if paid by the end of the month.
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November 9 The company borrowed $3,425 cash by signing a note payable to the bank.
November 13J. Ali, the owner, contributed $4,725 cash to the company.
November 18 The company sold merchandise costing $189 to B. Cox for $336 cash.
November 22 The company paid Hart Company $4,500 cash for the merchandise purchased on November 3.
November 27 The company received $1,279 cash from J. Than in payment of the November 7 purchase.
November 30 The company paid salaries of $2,250 in cash.
\table[[CASH RECEIPTS JOURNAL],[Date,Account Credited,\table[[Cash],[Debit]],\table[[Sales],[Discount],[Debit]],\table[[Accounts],[Receivable],[Credit]],\table[[Sales],[Credit]],\table[[Other],[Accounts],[Credit]],\table[[Cost of Goods],[Sold Debit],[Inventory],[Credit]]],[,,,,,,,],[,,,,,,,],[,,,,,,,],[,,,,,,,],[,,,,,,,],[,,,,,,,],[,,,,,,,]]
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