Prepare joumal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Novenber 5 Purchased 500 units of product at a cost of 520 per unit. Terms of the ssio are 3/10, n/6e; the invotce it dated November 5 Novenber 7 Returmed as defective units from the Novesber 5 purchase and recelved full credit. Novenber 15 Patd the anount due fron the Novenber 5 purchase, minus the return on November 7 . Journal entry worksheet Purchased 500 units of product at a cost of $20 per unit. Terms of the sale are 3/10,n/60; the invoice is dated November 5 . Note: Lnter dobits belare aredits. Prepare joumal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. November 5 Purchased 500 units of product at a cost of 328 per unit. Terns of the sale are 3/10, n/6e; the 1ovoice is dated Noventer 5 . November 7 Returned 45 defective units from the Novenber 5 purchase and recelved full credit. Novenber 15 Paid the amount due fron the November 5 purchase, minus the roturn on rovember 7. Journal entry worksheet Paid the amount due from the November 5 purchase, minus the return on November 7. Roce: Enter debuts before credita. Prepare joumal entiles to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. rowenter 5 Purchased 500 umits of product at a cost of $20 per unit. Terns of the sale are 3/10, n/60; the Invoice is dated November 5 . Noventer 7 Returned 45 defectlve units from the Noycaber 5 purchase and recelved fu11 credit. Novenber 15 Paid the hnount due from the Novenber 5 purehase, minus the return on Novenber 7 . Journal entry worksheet Returned 45 defective units from the November 5 purchase and received full crodit. Wotes trier debits before credits