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Following are the merchandising transactions for Dollar Store. Nov. 1 Dollar Store purchases merchandise for $1,see on terms of 2/5, n/se, FoB shipping point, invoice

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Following are the merchandising transactions for Dollar Store. Nov. 1 Dollar Store purchases merchandise for $1,see on terms of 2/5, n/se, FoB shipping point, invoice dated November 1. 5 Dollar Store pays cash for the November 1 purchase. 7 Dollar Store discovers and returns $200 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund. 1e Dollar Store pays $75 cash for transportation costs for the November 1 purchase. 13 Dollar Store sells merchandise for $1,620 with teres n/38. The cost of the merchandise is $810 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $265 and cost $133; the items were not damaged and were returned to inventory Journalize the above merchandising transactions for the Dollar Store ossuming it uses a perpetuoal inventory system and the gross method Waw transaction Bet Vew journal entry worksheat No Date Goneral Journal Nov 01 Accounts receivable 6,600 Sales 6,600

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