Question 7 On Nov 11, Al Ain Co. accepts delivery of $140,000 of merchandise it purchases for resale from Dubai Corporation. With the merchandises an invice Now 11, 2/10, 1/60, FOB shipping point. The goods cost Dubai $85,000. When the goods are delivered, Al Ain pays $3,450 to Express Shipping for every charge on the merchandi On Nov 12. Al Ain returns $18.400 of goods to Dubai, which receives them two days later and restores to inventory. The returned goods had cost Dub 18.00. On Nov 20. NA mails a check to Dubai Corporation for the amount owed. Dubai receives it the following day. (Both Al Ain and Dubause a perpetual inventory system) a) Prepare journal entries that Al-Ain Co. records for these transactions