Homework: Chapter 5 Score: 2.31 of 5 pts E5B-31 (book/static) Save 2 of 5 (4 complete) HW Score: 56.23%, 14.06 of 25 pts Question Help Jounalize the following transactions for Master Bicycles using the periodic inventory system. Explanations are not required. (Reoord debits first, then credits. Exclude explanations from journal entries. Assume the company uses the net amount to record sales) (Click the icon to view the transactions) i More Info Nov. 8. Paid freiht bill of $100 o Noveber 2 purchase. Date Debit Credit Now. 2 Purchased $3,400 of merchandise inventory on account under terms Nov a Freight In 10C 10, nOMM and FOB shipping point Returned $800 ot detectve merchandise purchased on November 2 Cash 100 8 laid treight bill of $100 on November 2 purchase 10 Sold merchandise inventory on account for $6,100. Payment terms 11 Paid amount owed on credit purchase ot November 2, less the retum 22 Recelved cash om November 1 ustomer in tull settlement of were 31, n45 No 10' Sold e inventory on acoount tor ,100 Payment terms wwere 31, ni45 and the discunt Date Accounte Debit Credit their debt, lss te discount Nov. 10 6, ICICI Sales Revenue Print Done Choose from any list or enter any number In the Input felds and then click Check