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. Novenber 5 Purchased 1,000 units of product at a cost of $20 per unit. Terns of the sale are 3/10, n/60; the involee is dated Hovenber 5 . November 7 Returned 45 defective units from the November 5 purchase and recoived full credit. November 15 Paid the amount due from the Novenber 5 purchase, minus the return on November 7 . Journal entry worksheet Purchased 1,000 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: Enter debits before credits