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3-18 Following are the merchandising transactions for Dollar Store Nov 1 Dollar Store purchases merchandise for $1,000 on tures of 2/5, 1/30, For shipping point,
3-18 Following are the merchandising transactions for Dollar Store Nov 1 Dollar Store purchases merchandise for $1,000 on tures of 2/5, 1/30, For shipping point, invoice dated November 1 5 Dollar Store pays cash for the November 1 purchase 7 Dollar Store discovers and returns 5200 of defective merchandise purchased on November 1, and paid for on November 5, for cash refund 10 Dollar Store pays $90 cash for transportation costs for the November 1 purchase 13 Dollar Store sells merchandise for $1,944 with teres 3. The cost of the merchandise is $972 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $260 and cost $130, the items were not damaged and were returned to inventory Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross method
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