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. Nere 5 Purchased 850 units of product at cost of $10 per unit. Terme in the sale are 3/10, 1/60, the invoice is dated November 5. Now 7 Returned 30 defective unite from the lovenber 5 purchase and received full credit. Nov. 15. Pald the wount de from the Novencer 5 purchase in the return on November 7 View transaction list 38 Journal entry worksheet 1 2 3 > Purchased 850 units of product at a cost of $10 per unit. Terms of the sale are 3/10, 1/60; the invoice is dated November 5. Note: Enter debits before credits Date Nov 05 General Journal Debit Credit 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. Now. 5 Purchased 850 units of product at coat of $10 per unit. Ternus of the sale are 3/10, 1/60; the invece is dated Nerember 5 7. Returned 30 detective units from the November 5 purchase and received full credit Nov. 15 Paid the amount from the November 5 purchase, in the return on November 7 Nov. View transaction list Journal entry worksheet