Prepare journal 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 1,150 units of prodjet at a cost of $10 per unit. Terma of the aale are 3/10,n/60, the involce is dated Novenber 5 . Novenber 7 Returned 30 defective units tron the November 5 purchase and received foll eredit. Novenber 15 Paid the amount due from the November 5 purehase, minus the raturn on November 7. Journal entry worksheet Purchased 1,150 units of product at a cost of $10 per unit. Terms of the sale are 3/10,n/60; the invoice is dated November 5 . Motes Enter debits before credits. Prepare journal 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 purchaned 1,150 units of product at a cost of $10 per unit. Terma of the sale are 3/10,n/60; the invoice is dated Novenber 5 . Novenber 7 Returned 30 defective units trom the November 5 purchase and received full eredit. Novenber 15 paid the amount due fron the November 5 purchase, ninus the return on November 7. Journal entry worksheet Returned 30 defective units from the November 5 purchase and received full credit. Mote: Enter debits before credits, repare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual nventory system and the gross method. Nevember 5 Parchased 1,150 unita of product at a cost of $10 per unit. Terma of the sale are 3/10, n/60, the invoice is dated Noveaber 5 . November? Returned 30 defective units from the November 5 purchase and received full credit. Vovenber 15 Paid the amount dae from the November 5 purchase, minus the return on Hovember 7. Journal entry worksheet Pald the amount due from the November 5 purchase, minus the return on November 7. Note: Enter debits before credits