Prepare the necessary general journal entries for the month of October and November for DynaCore Retail for each situation given below. Omit explanations. Oct. 5 - Paid cash of $23,000 for operating expenses that were incurred and properly recorded in the previous period as liabilities. 9 - Purchased merchandise for $52,000 on account. Credit terms: 2/10, n/30, FOB Shipping Point. 12 - Received a freight bill of $170 for merchandise purchased on October 9, from XYZ Co. 17 - Paid for merchandise purchased on October 9. The company takes all discounts to which it is entitled. 20 - Sold merchandise for $10,000 to Rattles Distribution on account. The cost of the merchandise sold was $4,200. Credit terms: 2/10, n/30. 26 - Issued a credit memo to Rattles Distribution for $500 for merchandise returned from the sale on October 20. The cost of the merchandise returned was $330. Nov. 1 - Received payment from Rattles Distribution for the sale on October 20.

(a) DynaCore uses a perpetual inventory system. (b) DynaCore uses a periodic inventory system.