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 $1,150$ 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 November $5$ purchase, minus the return on November $7.$