3 (27 marks) (PROVIDE GATES, BUT NO EXPLANATIONS ARE REGU Prepare journal entries on the next page for the following merchandising transactions for Adanac Industries using both the perpetual and periodic inventory systems. The year end of the business is December 31. DATES ARE REQUIRED FOR EACH JOURNAL ENTRY. Nov 1 Nov 2 Nov 3 Nov 4 Nov 10 Purchased merchandise from Discount Supplies for $3,000 on credit with terms of 1/10, n/45. FOB shipping point Paid $100 for shipping charges on the purchase from Discount Supplies Sold merchandise to ABC Ltd. on credit for $3,000 (cost of the inventory is $1,800) terms 2/10, n/end of month, FOB destination Paid $68 freight charges to deliver the merchandise to ABC Ltd Paid the balance owing to Discount Supplies from the November 1st purchase Nov 13 Received the balance owing from ABC Ltd. from the November 3rd sale. Nov 15 ABC Ltd. returned an item from the November 3 sale. The item had sold for $300 and cost $180). The item is damaged and will not be returned to inventory. Nov 18 Returned 10% of the merchandise to Discount Supplies from the Nov 1st purchase. Nov 30 An inventory count is performed at the end of every month. An adjustment was made for inventory shrinkage of $300. AA perpetual entry eye