Question 14 Revkjavik Company uses a perpetual inventory system and records their purchases at net amounts. November 1 - Purchased merchandise from Selfoss Company for $800 with the terms of 2/10,n/30. November 2 - Returned 5200 of the merchandise to the Selfoss Company. November 4 - Purchased merchandise from the Vik Company for $900 with the terms of 3/10,n/30. November 6 - Paid the amount owed to the Selfoss Company November 8 - Returned $100 of merchandise purchased from Vik Company, November 12 - Sold all of the merchandise on hand from the Selfoss Company for $1,060. November 16 - Paid the amount owed to Vik Company in full. Aequired: [14 marks] Prepare the journal entries required for the above events. Page 8 of 11