Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inveatory system and the gross method. Novenber 5 Purchased 600 units of product at a cost of $10 per unit. Terms of the sale are 2/10, n/66; the invoice is dated November 5 . Novenber? Beturned 25 defective units from the Noveaber 5 purchase and received fult credit. Novenber 15 Paid the anount due fron the November 5 purchase, ninus the return on Novefber 7. Journal entry worksheet Purchased 600 units of product at a cost of $10 per unit. Terms of the sale are 2/10,n/60; the invoice is dated November 5 : Note: Enter debits before crests