ALSO IF POSSIBLE I DONT KNOW HOW TO CALCULATE RETAINED EARNINGS FOR THIS ONE:

QS 4-4 Recording purchases-perpetual system LO P1 Prepare journal entries to record each of the following purchases transactions of a merchandising company Assume a perpetual inventory system. Nov. 5 Purchased 1,450 units of product at a cost of $40 per unit. Terms of the sale are 3,10, n/60; the Nov. 7 Returned 30 defective units from the November 5 purchase and received full credit. invoice is dated November 5. Nov. 15 Paid the amount due from the November 5 purchase, less the return on November 7. Vlew transaction list Vlew Journal entry worksheet No Date General Journal Debit Credit 1Nov 05 Merchandise inventory 58,000 Accounts payable 58,000 2 | Nov 07 Accounts payable 1,200 Merchandise inventory 1,200 3 | Nov 15 Accounts payable 56,800 Merchandise inventory