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Nov. 5 Purchased 900 units of product at a cost of $10 per unit. Terms of the sale are 4/10, n/60; the invoice is dated

Nov.5

Purchased 900 units of product at a cost of $10 per unit. Terms of the sale are 4/10, n/60; the invoice is dated November 5.

Nov.7Returned 35 defective units from the November 5 purchase and received full credit.
Nov.15Paid the amount due from the November 5 purchase, less the return on November 7.


Prepare the journal entries to record each of the above purchases transactions of a merchandising company. Assume a perpetual inventory system.

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