Journals 6.0 points possible (graded, results hidden) On November 1, Brotherhood Footwear Limited started Footwear Business. The company uses a periodic inventory system. During November, the following transactions and events occurred. Instructions: Journalize the transactions in the following table for the month of November for Brother Hood Footwear Limited using a periodic inventory system. November 5 Purchased shoes, sandals and other inventory on account from Topford Co. $1400, FOB destination, terms 2/10, n/60. The appropriate party also made a cash payment of $350 for the freight on this date. Account to be debited is Amount is $ 1.0 point possible (graded, results hidden) When a corporation sells merchandise and the terms are FOB shipping point. In the seller's book, freight cost will not be recorded as the seller will not pay. be recorded as Cash debit, Accounts Receivable credit be recorded as Merchandise Inventory debit, Cash credit be recorded as Freight out debit, Cash credit