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 950 units of product at a cost of $12 per unit. Terns of the sale are 5/10,n/60; the invoice is dated November 5 . Novenber 7 Returned 40 defective units fron the Novenber 5 purchase and received full credit. November 15 Paid the amount due from the November 5 purchase, ninus the return on November 7. Journal entry worksheet Purchased 950 units of product at a cost of $12 per unit. Terms of the sale are 5/10,n/60; the invoice is dated November 5. Note: Enter debits before credits. Journal entry worksheet Returned 40 defective units from the November 5 purchase and received full credit. Note: Enter debits before credits. Journal entry worksheet Paid the amount due from the November 5 purchase, minus the return on November 7 . Note: Enter debits before credits