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 850 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 . November 7 Returned 30 defective units from the November 5 purchase and received full credit. November 15 Paid the amount due from the Novenber 5 purchase, minus the return on Novenber 7. Journal entry worksheet Purchased 850 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 . Note: Enter debits before credits Returned 30 defective units from the November 5 purchase and received full credit. Note: Enter debits before credits. Paid the amount due from the November 5 purchase, minus the return on November 7. Note: Enter debits before credits