Journalize the following transactions that occurred in November for Sam's Adventure Land, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Sam's Adventure Land estimates sales returns at the end of each month and has a November 1 balance of $800 (debit) in Estimated Returns Inventory and $1,100 (credit) in Refunds Payable. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount.) (Click the icon to view the transactions.) Nov. 17: Received defective inventory as a sales return from the November 13 sale, $100. Cost of goods, $55. Start by preparing the entry to record the sales retum and decrease the receivable. Do not update the Merchandise Inventory with this entry. We will do that in the following step. Date Accounts Debit Credit Nov. 17 Purchase Returns and Allowances 100 Accounts Receivable-Cador Company 100 Now prepare the entry to update the Merchandise Inventory account for the cost of the returned mercha X Date Accounts Debit Credit More Info Nov. 17 Merchandise Inventory 55 Cost of Goods Sold 55 Nov. 18: Purchased inventory of $4,200 on account from Ruffman Corporation. Payment terms were 3/ Date Accounts Debit Credit Nov. 18 4200 Merchandise Inventory Accounts PayableRuffman Corporation 4200 Nov. 4 Purchased merchandise inventory on account from Vickman Company, $8,000. Tems 3/10, n/EOM, FOB shipping point. Nov. 6 Paid freight bill of $150 on November 4 purchase. Nov. 8 Retumed half of the inventory purchased on November 4 from Vickman Company. Nov. 10 Sold merchandise inventory for cash. $1,900. Cost of goods, $760. FOB destination. Nov. 11 Sold merchandise inventory to Garrison Corporation, $10,900, on account, terms 3/10, n/EOM. Cost of goods, $5,995. FOB shipping point Nov. 12 Paid freight bill of $60 on November 10 sale. Nov. 13 Sold merchandise inventory to Cador Company, $9,300, on account, terms of n/45. Cost of goods. $5,115. 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, $100. Cost of goods. $55. Nov. 18 Purchased inventory of $4,200 on account from Ruffman Corporation. Payment terms were 3/10, n/30, FOB destination. Nov. 20 Received cash from Garrison 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 Sampson Corporation for cash, $11,400, FOB shipping point. Freight in paid to shipping company, $180. Nov. 20: Received cash from Garrison Corporation, less discount. Date Accounts Debit Credit Nov. 20 Cash Purchase Discounts Accounts Receivable-Garrison Corporation Nov. 26: Paid amount owed on account from November 18, less discount. Date Accounts Debit Credit Nov. 26 4200 Print Done Accounts Payable -Ruffman Corporation Merchandise Inventory 126 Cash 4074 Nov. 28: Received cash from Cador Company, less return. Choose from any list or enter any number in the input fields and then continue to the next question. ? Journalize the following transactions that occurred in November for Sam's Adventure Land, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable a Inventory and $1,100 (credit) in Refunds Payable. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount.) (Click the icon to view the transactions.) Nov. 4: Purchased merchandise inventory on account from Vickman Company, $8,000. Terms 3/10, n/EOM, FOB shipping point Date Accounts Debit Credit Nov. 4 Merchandise Inventory More Info Accounts Payable-Vickman Company v - Nov. 6: Paid freight bill of $150 on November 4 purchase. Date Debit Credit Nov. 8 Accounts Merchandise Inventory Cash 7 Nov. 8: Returned half of the inventory purchased on November 4 from Vickman Company Date Accounts Debit Credit Nov. 8 Accounts Payable-Vickman Company Merchandise Inventory Nov. 4 Purchased merchandise inventory on account from Vickman Company. $8,000. Terms 3/10, n/EOM, FOB shipping point. Nov. 6 Paid freight bill of $150 on November 4 purchase. Nov. 8 Returned half of the inventory purchased on November 4 from Vickman Company, Nov. 10 Sold merchandise inventory for cash, $1,900. Cost of goods, $760. FOB destination Nov. 11 Sold merchandise inventory to Garrison Corporation $10,900, on account, terms 3/10,n/EOM. Cost of goods, $5,995. FOB shipping point. Nov. 12 Paid freight bill of $60 on November 10 sale. Nov. 13 Sold merchandise inventory to Cador Company, $9,300, on account, terms of n/45. Cost of goods, $5,115. FOB shipping point Nov. 14 Paid the amount owed on account from November 4, less return and discount. Nov. 17 Recalved defective inventory as a sales return from the November 13 sale, $100. Cost of goods, $55. Nov. 18 Purchased inventory of 54,200 on account from Ruffman Corporation. Payment terms were 3/10, n/30, FOB destination. Nov. 20 Received cash from Garrison Corporation, less discount. Nov. 26 Paid amount owed on account from November 18, less discount Nov. 28 Received cash from Cador Company, less retum. Nov. 29 Purchased inventory from Sampson Corporation for cash, $11,400, FOB shipping point. Freight in paid to shipping company. S180. 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 Date Accounts Debit Credit Nov. 10 Cash Print Done Sales Revenue Now journalize the expense related to the November 10 saleCost of goods, $760. Date Accounts Debit Credit Nov. 10 Cost of Goods Sold Merchandise Inventory Nov. 11: Sold merchandise inventory to Garrison Corporation, $10,900, on account, terms 3/10, n/EOM. Cost of goods. $5,995. FOB shipping point. Ronin hw nrenarinn the entry to inurnalize the sale nortion of the transaction no not record the eynense related to the sale We will do that in the followina eten