4 35 points Following are the merchandising transactions of Dollar Store November 1 Dollar Store purchaserchandise for $1.000 tors of 2/5.30, on shipping point the dated November November Dollar store pays cash for the November I purchase Sovember 1 Dollar store discover and return $250 of defective merchandise pidanov 1. paid for 9 November 5, tor & cash refund November 10 Dollar store pays $90 cash for transportations for the love the November 13 Dollar Store la serandi for $1,14 with tee 30. The cost of the chi 1873. November 16 Merchandise in returned to the Dollar Store from the November 13 transaction. The rettenere priced 5225 and coat 113 the items were noted and were to try. Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetua inventory system and the gros method View transaction View transaction list Journal entry worksheet Dollar Store discovers and returns $250 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund, Nota: Enter debits before credits Debit Geheral Journal Date Credit Nov 07 View general journal Clear entry Record entry OOK View transaction list int Journal entry worksheet int rences Dollar Store pays $90 cash for transportation costs for the November 1 purchase Note Enter debits before credit Geheral Journal Debat Credit Date Nov 10 View general Journal Clear entry Record entry of 7 Next > Hook View transaction list Hint Print Journal entry worksheet 1 erences 2 3 4 6 7 8 > Dollar Store sells merchandise for $1,944 with terms 1/30 Note: Enter debits before credits Debit Credit Geheral Journal Date Nov 13 View general Journal Dentry Clear entry BOOM View transaction ist Hint Print Journal entry worksheet The cost of the merchandise is $972. Note: Enter debts before credits. Geheral Journal Debit Credit Date Nov 13 Record entry Clear entry View general Journal Pro 471 Next > w ok ht Journal entry worksheet mt nces Merchandise is returned to the Dollar Store from the November 13 transaction The returned items are priced at $225. Note: Enter debits before credits General Joumal Debit Credit Date Nov 16 View general journal Record entry Clear entry 5 ints View transaction list eBook Journal entry worksheet Hint 1 2 3 4 5 6 7 > of References The returned items cost $113; the items were not damaged and were returned to inventory Note Enter debits before credits General Journal Debit Credit Date Nov 16 View general Journal Record entry Clear antry Check my work 3 4 point Required information The following information applies to the questions displayed below) Allied Merchandisers was organized on May 1. Macy Company is a major customer (buyer of Alled seller products May Allind made its first and only purchase of Eventory for the period on way for 1.000 unitat price of $10 cash per unit for a total cost of $10,000). MAY SARI sold 500 of the unit in Inventory for $10 per unit invoice tot 17.000) to Mary Company under credit term 2/10, 1/6. The good cont Alle 5,000. Hay 7 Haey returne so unite because they did not fit the customer needs invloe mount $700). Allied restore the unite, which cost 1500, toite inventory May Haey discovers that 50 units are suffed but are still of us and therefore, we the site. Allied sive price reduction face) and credit Macy'. counts receivable for 1500 to compeneste for the damage. May 15 Allied receives payment from Maey for the amount owed on the May 5 purchase payment to met of returns, allowances, and any cash discount. Prepare journal entries to record the following transactions for Allied assuming ruses a perpetual inventory system and the gross method View transaction that View transaction list Journal entry worksheet Aled made its first and only purchase of Inventory for the period on May 3 for 1,000 units at a price of $10 cash per unit (for a total cost of $10,000). Note: Enter debits before credits General Journal Debit Credit Date May 03 View general Journal Record entry Clear entry TONTT Journal entry worksheet 1 & 3 5 6 7 > Allied sold 500 of the units in inventory for $14 per unit (Invoice total: $7,000) to Macy Co. under credit terms 2/10, 1/60. Nom Enter debits before credits Date General Journal Debit Credit May 05 Record entry Clear entry View general Journal ok ht Journal entry worksheet ant 1 2 4 5 6 7 ences Record the cost of goods sold. Nota: Enter debits before credits Date General Journal Debit Credit May 05 Record entry Clear entry View general Journal ats View transaction list eBook Hint Journal entry worksheet References Allied restores the units, which cost $500, to its inventory Not Enter debits before credits Debit General Journal Date Credit May 07 Record entry Clear entry View general journal View transaction list book Hint Journal entry worksheet 1 3 4 Print 2 5 7 > eferences Macy discovers that 50 units are scuffed but are still of use and, therefore, keeps the units. Allied gives a price reduction (allowance) and credits Macy's accounts receivable for $300 to compensate for the damage. Note Enter debits before credits Date General Journal May OB Debit Credit Record entry Clear entry View general Journal View transaction list Journal entry worksheet 3 4 5 6 7 > Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount. Note: Enter debits before credits General Journal Debit Credit Date May 15 Record entry Clear entry View general Journal