18 The following information was presented by the bookkeeper for King's Arboretum Supplies for the month of November 2019 Nov 2 Purchased $106,500 of inventory on account, terms 2/10, net 30 Nov 3 Pald 5800 cash for freight bill for transportation of inventory purchased Nov 4 Sold $77,000 of products to Mudder Waters on account, terms 2/10, net 30 cost of goods sold 530,800 Nov 6 Paid for inventory bought on Nov 2. less 52,130 discount Nov 7 One of King's clients, Water's Inc, returned 51,070 of goods purchased on account. The cost of goods sold for returned inventory is 5642 Required Prepare the journal entries to record the above transactions. Assume the company uses the perpetual inventory system Do not enter dollar signs or commas in the input boxes For transactions that have 2.debits or 2 credits enter the accounts in alphabetical order. Date Account Title and Explanation Debit Credit INova . Purchase inventory on account NOU Paid freight bill Nov 4 Record sales on account Nov 4 Record cost of goods sold for above sale Nov 6 Paid for merchandise less return and discount Nov 7 Customer returned goods Nov 7