Exercise 4-12 (Algo) Recording purchases, sales, returns, and shipping LO P1, P2 Following are the merchandising transactions of Dollar Store. November 1 oollar Store purchases merchandise for $1,300 on terms of 2/5,n/30, Fos shipping point, invoice dated November 1. November 5 Dollar Store pays cash for the November 1 purchase. November 7 Dollar Store discovers and returns $150 of defective nerchandise purchased on November 1 , and paid for on November 5 , for a cash refund. November 10 Dollar Store pays $65 cash for transportation costs for the November 1 purchase. November 13 Dollar Store sells merchandise for $1,494 with terms N/30. The cost of the merchandise is $702. November 16 Merchandise is returned to the Dollar Store from the Novenber 13 transaction. The returned itens are priced at $260 and cost $138;; 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. Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross method. Journal entry worksheet Dollar Store purchases merchandise for $1,300 on terms of 2/5,n/30,FOB shipping point, invoice dated November 1. Note: Enter debits before cred:ts