Question 1 O pts 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 $150 for merchandise purchased on October 9, from XYZ Co. 15 - Returned $2,000 of the merchandise that was purchased on October 9. 17 - Paid for merchandise purchased on October 9. The company takes all discounts to which it is entitled 20 - Sold merchandise for $10,500 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 $300, (a) DynaCore uses a perpetual inventory system. 21 pts (b) DynaCore uses a periodic inventory system. 17 pts. Edit View Insert Format Tools Table