2 25 points eBook 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. November 5 Purchased 1,250 units of product at a cost of $20 per unit. Terms of the sale are 5/10, n/60: the invoice is I dated Novenber 5. November 7 Returned 40 defective units from the November 5 purchase and received full credit. November 15 Paid the amount due from the November 5 purchase, minus the return on November 7. Che View transaction list Journal entry worksheet < 1 2 3 Purchased 1,250 units of product at a cost of $20 per unit. Terms of the sale are 5/10, n/60; the invoice is dated Novemier 5. Note: Enter debits before credits. Date Nov 05 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 23 Returned 40 defective units from the November 5 purchase and received full credit. Note: Enter debits before credits. Date Nov 07 General Journal Debit Credit Record entry Clear entry View general journal > worksheet 1 2 3 Paid the amount due from the November 5 purchase, minus the return on November 7. Note: Enter debits before credits. Date Nov 15 General Journal Debit Credit Record entry Clear entry View general journal