Business, 02.04.2020 15:38 Alangs

Biloxi Gifts uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The November transactions are given below:

Nov. 2 The company purchased $2,600 of merchandise on credit from the Midland Co., terms 2/10, n/30.
12
The owner, T. Biloxi, contributed an automobile worth $17,000 to the company.

16 The company sold $1,200 of merchandise (cost is $800) on credit to K. Myer, terms n/30.
19
K. Myer returned $175 of (worthless) merchandise to the company originally purchased on November 16 (assume the cost of this merchandise is left in cost of goods sold).

Journalize November transactions that should be recorded in the general journal. (If the transaction is not recorded in the general journal, select "Not recorded in general journal" in the first account field.)

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Biloxi Gifts uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursement...