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. Nov. Purchased 950 units of product at cost of $12 par unit. Terms of the sale are 5/10, 1/60: the invoice is dated November 5. Nov. 7 Neturned 40 defective anita from the November 5 purchase and received full credit. Nov. 15 Paid the amount due from the November 5 purchase, minus the return on November 7. View transaction list Journal entry worksheet 23 Purchased 950 units of product at a cost of $12 per unit. Terms of the sale are 5/10, 1/60; the invoice is dated November S. Noter Enter debits before credits General Journal Debit Credit Date Nov 05 Racord entry Clear entry View general Journal