Part I (16 Marks) The Zinc Company uses a perpetual inventory system. The following transactions occurred during November 2021. Nov 4 Purchased merchandise from Ruby Co.for $18,000; terms of 2/15, n/30, FOB shipping point 7 Sold merchandise to Sapphire Co. for $8,300 under credit terms 1/10, n30. The merchandise had a cost of $4,400. 8 Paid $500 to Meta Freight Company for delivery charges for the November 4th purchase. 9 Received a $1,600 debit memorandum acknowledging the return of merchandise purchased on November 4th. 16 Received payment from Sapphire Co. for the balance owing on their account. 17 Paid Ruby Co. the amount owing on account. REQUIRED: Prepare the journal entries for the November transactions on the general journal form provided