Following are the merchandising transactions for a company Nov. 1 A company purchases merchandise for $1,300 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. 5 A company pays cash for the November 1 purchase 7 A company discovers and returns $150 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund 10 A company pays $65 cash for transportation costs for the November 1 purchase. 13 A company sells merchandise for $1,404 with terms n/30. The cost of the merchandise is $702 16 Merchandise is returned to the company from the November 13 transaction. The returned items are priced at $215 and cost $108; the items were not damaged and were returned to inventory Journalize the above merchandising transactions for the a company 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 November1 Note: Enter debits before credits. Date General Journal Debit Credit Nov 01 Record entry Clear entry View general journal