earch Textbook Solutions Chey x 000 Nextcloud + S/R6TY4LK4ZGEGUSW#pdfviewer 2021.pdf Automatic Zoom Problem #2 Bluenote uses a perpetual inventory system. COGS is 85% of the selling price and the estimated return rate is 10%. The November 1 balance in the A/R account is $85,000 and estimated uncollectible accounts is 5%. The company prepares monthly adjusting entries. The following transactions occurred during the month of November. 2021 Nov 1 Nov 1 5 Sold merchandise on account in the amount of $70,000, terms n/30. Received a $9,000, 4%, 1-year note from Kim Sharp as full payment on her account. Interest is due at maturity. Merchandise was returned and restored into inventory. The inventory was originally sold for $20,000. Received payment for 90% of the previous month's outstanding receivables $4,000 that was previously written off is collected. 9 15 Instructions Prepare all the necessary transactions for the month of November. (25 marks) biste sa