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 1,250 units of product at a cost of $20 per unit. Terms of the sate are 5/10,n/60; the invoice is dated November 5 . Noverber 7 Returned 40 defective units from the November 5 purchase and received full credit. Novenber 15 Paid the amount duestrom the November 5 purchase, minus the return on November 7. Journal entry worksheet Purchased 1,250 units of product at a cost of $20 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