Journalize the transactions for the month of November for Penarol inc. Using a periodic inventory system

SOAL 1 - Accounting for Merchandising Operations Periodic Penarol inc. distributes oil to several retail shops in Texas. They give a credit term to their customer of 1/10 n/30. During the month of November 2021, the following related merchandising transaction occurred. Nov 1 Purchased Oil on account for $7,000 from Chevron inc. , FOB Shipping, terms 2/10 n/30. The appropriate party pay $200 cash payment for freight on this date Nov 3 Return some defected oil worth of $1,000 to Chevron inc. Nov 11 Sold 20 barrels of oil on account for $10,000 to Black stone. The cost of the oil sold was $5,000. Nov 15 Paid Chevron inc. in full. Nov 20 Received payment from Black Stone minerals in full. Nov 23 Purchased Oil on account for $12,000 from Shell , FOB Destination, terms 3/10 n/30. Nov 24 Sold Oil to Exco Resources for $22,000. The cost of the oil sold was $11,000 Nov 30 Received payment from Exco Resources Instructions: Journalize the transactions for the month of November for Penarol inc. Using a periodic inventory system