5

FreeThe ers 5-8 Saved Following are the merchandising transactions for Dollar Store. Nov. 1 Dollar Store purchases merchandise for $2,900 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. 5 Dollar Store pays cash for the November 1 purchase. 7 Dollar Store discovers and returns $250 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund. 10 Dollar Store pays $145 cash for transportation costs for the November 1 purchase. 13 Dollar Store sells merchandise for $3,132 with terns n/30. The cost of the merchandise is $1,566. 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. View transaction list Journal entry worksheet 2 4 1 3 5 6 7 8 Dollar Store purchases merchandise for $2,900 on terms of 2/5, 1/30, FOB shipping point, Invoice dated November 1. Note: Enter debuts before credits Date General Journal Debit Credit Dollar Store purchases merchandise for $2,900 on terms of 2/5, n/30, FOB shipping point, Involce dated November 1. Note: Enter debits before credits. Date General Journal Debit Credit Nov 01 Record entry Clear entry View general journal Prey Journal entry worksheet 1 3 4 5 6 7 8 Dollar Store pays cash for the November 1 purchase. Note: Enter debits before credits. Date General Journal Debit Credit Nov 05 Record entry Clear entry View general journal Journal entry worksheet