Prepare journal entries to record each of the following purchases transactions of a merchandising company Assume a perpetual inventory system.Nov. 5 Purchased 800 units of product at a cost of $8 per unit Terms of the sale are 5/10. n/60: the invoice is dated November 5 Nov. 7 Returned 25 defective units from the November 5 purchase and received full credit Nov 15 Paid the amount due from the November 5 purchase less the return on November 7 Purchased 800 units of product at a cost of $8 per unit. Terms of the sale are 5/10, n/60; the invoice is dated November 5