Following are the merchandising transactions of Dollar Store. November 1 Dollar Store purchases merchandise for $2,000 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. November 5 Dollar Store pays cash for the November 1 purchase. November 7 Dollar Store discovers and returns $200 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund. November 10 Dollar Store pays $100 cash for transportation costs for the November 1 purchase. November 13 Dollar Store sells merchandise for $2,160 with terms n/30. The cost of the merchandise is $1,080. November 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $250 and cost $125%; 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. View transaction list View journal entry worksheet No Date General Journal 1 Nov 01 Merchandise inventory Accounts payable 2 Nov 05 Accounts payable Cash Merchandise inventory 3 Nov 07 Cash Merchandise inventory 4 Nov 10 Merchandise inventory Cash 5 Nov 13 Accounts receivable Sales 6 Nov 13 Cost of goods sold Merchandise inventory 7 Nov 16 Sales returns and allowances 8 Nov 16 Accounts receivable Merchandise inventory Cost of goods sold Debit Credit