Prepare journal entries to record each of the merchandising transactions assuming that the company records purchases using the net method and a perpetual inventory system. November 5 Purchased 1,350 units of product at a cost of $20 per unit. Terns of the sale are 4/10, 7/60; the invoice is dated Novenber 5 . Novesber 7 Returned 50 defective units from the November 5 purchase and received ful1 credit. November 15 Paid the anount due from the Movenber 5 purchase, minus the return on Noveaber 7