4 2 points eBook Following are the merchandising transactions of Dollar Store. November 1 Dollar Store purchases merchandise for $1,300 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. November 5 Dollar Store pays cash for the November 1 purchase. November 7 Dollar Store discovers and returns $200 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund. November 10 Dollar Store pays $65 cash for transportation costs for the November 1 purchase. November 13 Dollar Store sells merchandise for $1,404 with terms n/30. The cost of the merchandise is $702. November 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $245 and cost $123; 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. Hint View transaction list Print View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 Dollar Store purchases merchandise for $1,300 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. Note: Enter debits before credits. Date Nov 01 General Journal Debit Credit Record entry Clear entry View general journal > View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 > Dollar Store pays cash for the November 1 purchase. Note: Enter debits before credits. Date Nov 05 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 2 4 5 6 7 8 Dollar Store discovers and returns $200 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund. Note: Enter debits before credits. Date Nov 07 General Journal Debit Credit Record entry Clear entry View general journal > View transaction list Journal entry worksheet > 1 2 3 4 5678 Dollar Store pays $65 cash for transportation costs for the November 1 purchase. Note: Enter debits before credits. Date Nov 10 General Journal Debit Credit Record entry Clear entry View general journal > View transaction list Journal entry worksheet 1 2 3 4 LO 6 7 8 > Dollar Store sells merchandise for $1,404 with terms n/30. Note: Enter debits before credits. Date Nov 13 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 2 3 4 5 The cost of the merchandise is $702. Note: Enter debits before credits. Date Nov 13 co 7 8 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 3 4 5 6 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $245. Note: Enter debits before credits. Date Nov 16 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 00 The returned items cost $123; the items were not damaged and were returned to inventory. Note: Enter debits before credits. Date Nov 16 General Journal Debit Credit > Record entry Clear entry View general journal