Exercise 4-9 Recording purchases, sales, returns, and shipping LO P1, P2 Following are the merchandising transactions for Dollar Store Nov. 1 Dollar Store purchases merchandise for $1,500 on terns of 2/5, n/30, FOB shipping point, invoice dated Noveaber 1. 5 Dollar Store pays cash for the November 1 purchase. 7 Dollar Store di scovers and returns $200 of defective serchandise purchased on Novesber 1. and paid for on Novenber 5, for a cash refund. 10 Dollar Store pays $90 cash for transportation costs for the Novenber 1 purchase. 13 Dollar Store sells nerchandise for $1, 600 with terms n/30. The cost of the erchandise is $800. 16 Merchandise is returned to the Dallar Stare fron the November 13 transaction. The returned iteas are priced at $160 and cost $80: the i tens were not danaged 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 Dollar Store purchases merchandise for $1,500 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. Note: Enter debits before credits. Debit Credit Date General Journal Nov 01 View general journal Record entry Clear entry