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bllowing are the merchandising transactions of Dollar Store. lovember 1 Dollar store purchases merchandise for $1,900 on terms of 2/5,n/30, FOB shipping point, involce dated

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bllowing are the merchandising transactions of Dollar Store. lovember 1 Dollar store purchases merchandise for $1,900 on terms of 2/5,n/30, FOB shipping point, involce dated November 1. lovember 5 Dollar Store pays cash for the November 1 purchase. tovember 7 Dollar Store discovers and returns $200 of defective merchandise purchased on November 1, and paid for on November 5 , for a cash refund. 10 Dollar Store pays $95 cash for transportation costs for the Novenber 1 purchase. 13 Dollar Store sells merchandise for $2,052 with teres n/30. The cost of the merchandise is $1,026. 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $225 and cost $113; the items were not damaged and were returned to inventory. lournalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross Journal entry worksheet

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