12 pom Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual Inventory system and the gross method Nov. 5 Purchased 500 units of product at a cost of $20 per unit. Terms of the sale are 3/10, n/68; the invoice is dated November Nov. 7 Returned 45 defective units from the November 5 purchase and received full credit. Mov. 15 Paid the amount due from the November 5 purchase, minus the return on November 7. View transaction list 002025 Book Hire Journal entry worksheet < 1 2 3 Purchased 500 units of product at a cost of $20 per unit. Terms of the sale are 3/10, n/60; the invoice is dated November 5. Nate Enter debts before credits Date Nov 05 General Journal Debit Credit Record entry Clear entry View general journal