Question 9 (27 marks) (NO DATES OR EXPLANATIONS REQUIRED) Prepare journal entries for the following merchandising transactions assuming: A. A perpetual inventory system, and B., a periodic system. a) Nov 1 Purchased merchandise from Costmore Ltd. for $3,000 on credit with terms of 1/10, n/30, FOB shipping point. b) Nov 3 c) Nov 10 d) Nov 11 e) Nov 13 f) Nov 14 g) Nov 16 h) Nov 20 Nov 27 i) Paid $200 for shipping charges for the purchase of Nov 1. Paid Costmore Ltd. for the merchandise purchased on Nov 1 Returned 10% of the merchandise to Costmore Ltd. from the Nov 1 purchase. Sold merchandise to Cedar Inc. for $2,000 on account (cost of the merchandise was $750) terms 2/15, n/60 FOB destination. Paid the $50 transportation charges to deliver the merchandise sold to Cedar Inc. Cedar Inc. returned an item from the November 13th sale. The item had sold for $200 and cost $75. The item is damaged and will not be returned to inventory. Cedar Inc. received a price reduction of $100 regarding the November 13 sale. Cedar Inc. paid the balance due from sale on November 13.