Journal entry worksheet Returned merchandise that had a price of $130. Notei Enter debits before credits. Journal entry worksheet Paid the amount due from the May 1 purchase, minus the May 7 return. Notei Enter debits before credits. Prepare journal entries to record each of the following transactions. The company records purchases using the gross method and a perpetual inventory system. May 1 Purchased merchandise with a price of $860 and credit terns of n/30. May 7 Returned merchandise that had a price of $13e. May 31 Paid the amount due from the May 1 purchase, ainus the May 7 return, Journal entry worksheet Purchased merchandise with a price of $860 and credit terms of n/30. Wote Kntar detits befors gredits