Joumalze the following transactions that occurred in November for Ellie's Maze Town, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivabie with the vendor or customer name. Ellie's Maze Town estimates sales roturns at the end of each month and has a November 1 balance of $850 (debit) in Estimated Roturns inventory and $650 (credit) in Relunds Payable. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount) (C) (Click the icon to view the transactions.) Nov. 4: Purchased merchandise inventory on account from Venice Company, \$11,000. Terms 1/10, nEOM, FOB shipping point. Nov. 6: Paid freight bill of $160 on November 4 purchase. Nov. 8: Returned half of the inventory purchased on November 4 from Venice Company. Nov, 10: Sold merchandise inventory for cash, $1,900. Cost of goods, $760. FOB destination. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Now journalize the expense related to the November 10 sale-Cost of goods, $760. Nov. 11: Sold merchandise inventory to Graceland Corporation, $10,800, on account, terms 3/10,n/EOM. Cost of goods, $5,400. FOB shipping point. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. Wo will do that in the following step. Now journalize the expense related to the November 11 sale-Cost of goods, $5,400. Nov. 12: Paid freight bill of $20 on November 10 sale. Nov, 13: Sold merchandise inventory to Cador Company, $9,000, on account, terms of n/45. Cost of goods, $4,950. FOB shipping point. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do th the following step. Now journalize the expense related to the November 13 sale-Cost of goods, $4,950. Nov. 14: Paid the amount owed on account from November 4 , less return and discount. Nov. 17: Received defective inventory as a sales return from the November 13 sale, \$200. Cost of goods, $110. Start by preparing the entry to record the sales return and decrease the receivable. Do not update the Merchandise Inventory with this entry. We will do that in the following step. Now prepare the entry to update the Merchandise Inventory account for the cost of the returned merchandise-Cost of goods returned, $110. Nov. 18: Purchased inventory of $3,500 on account from Ruffman Corporation. Payment terms wore 3/10,n/30,FOB destination. \begin{tabular}{l||c||c||c|} \multicolumn{1}{c||}{ Date } & Accounts & Deblt & Credit \\ \hline Nov. 18 & & & \\ \hline & & & \\ \hline \end{tabular} Nov. 20: Received cash from Graceland Corporation, less discount. Nov. 26: Paid amount owed on account from November 18 , less discount. Nov. 28: Received cash from Cador Company, less return. Nov. 29: Purchased inventory from Smith Corporation for cash, $11,800, FOB shipping point. Freight in paid to shipping cornpany, $210. Start by preparing the entry to record the purchase of inventory. Do not record the freight. We will do that in the following step. Now record the freight paid to shipping company, $210. Nov. 4 Purchased merchandise inventory on account from Venice Company, \$11,000. Terms 1/10, n/EOM, FOB shipping point. Nov. 6 Paid freight bill of $160 on November 4 purchase. Nov. 8 Returned half of the inventory purchased on November 4 from Venice Company. Nov. 10 Sold merchandise inventory for cash, $1,900. Cost of goods, $760. FOB destination. Nov. 11 Sold merchandise inventory to Graceland Corporation, $10,800, on account, terms 3/10,n/ EOM. Cost of goods, $5,400. FOB shipping point. Nov. 12 Paid freight bill of $20 on November 10 sale. Nov. 13 Sold merchandise inventory to Cador Company, $9,000, on account, terms of n/45. Cost of goods, $4,950. FOB shipping point. Nov. 14 Paid the amount owed on account from November 4 , less return and discount. Nov. 13 Sold merchandise inventory to Cador Company, $9,000, on account, terms of n/45. Cost of goods, $4,950. FOB shipping point. Nov. 14 Paid the amount owed on account from November 4, less return and discount. Nov. 17 Received defective inventory as a sales return from the November 13 sale, $200. Cost of goods, $110. Nov. 18 Purchased inventory of $3,500 on account from Ruffman Corporation. Payment terms were 3/10,n/30,FOB destination. Nov. 20 Received cash from Graceland Corporation, less discount. Nov. 26 Paid amount owed on account from November 18, less discount. Nov. 28 Received cash from Cador Company, less return. Nov. 29 Purchased inventory from Smith Corporation for cash, $11,800, FOB shipping point. Freight in paid to shipping company, $210