Refer to the following merchandising transactions for Scout Systems.

Nov. 1 Scout Systems purchases merchandise for $5,400 on credit with terms of 3/10, n/30.

5 Scout Systems pays for the previous purchase.

7 Scout Systems receives payment for returned defective merchandise of $700 that was purchased on November 1.

10 Scout Systems pays $500 to transport merchandise to its store.

13 Scout Systems sells merchandise for $7,500 on account. The cost of the merchandise was $5,200.

16 A customer returns merchandise from the November 13 transaction. The returned item sold for $1,300 and cost $880. The item will be returned to inventory.

HELP ME PLEASE

Test #3 - Chapters 5&7 FO Refer to the following merchandising transactions for Scout Systems 17 Nov. 1 Scout Systems purchases marchandise for $5,400 on credit with terms of 3/10, n/30. 5 Scout Systems pays for the previous purchase. 7 Scout Systent receives payment for returned defective merchandise of $700 that was purchased on November 1. 10 Scout Systems pays $500 to transport merchandise to its store. 1) Scout Systems sells merchandise for $7,500 on account. The cost of the merchandise was $5,200 16 A customer returns merchandise from the November 13 transaction. The returned its sold for $1,30e and cost $80. The ite will be returned to inventory. 25 points 014246 a. Journalize the above transactions for Scout Systems assuming a periodic system. (if no entry is required for a transaction/event, select "No journal entry required in the first occount field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit Nov 1 5.400 Purchases Accounts payable 5,400 2 Nov 5 Accounts payable Purchases discount 1 Nov 7 Cash Purchases 4. Nov 10 Transportation-in Cash 5 Nov. 13 Accounts receivable Me Gaw Test #3 - Chapters 5&7 Seved a. Je auve um cu SS SUR Sun 101 BUDGcun select "No journal entry required" in the first account field.) 17 View transaction list View journal entry worksheet General Journal No Debit Credit 1 Nov 1 5,400 25 points Purchases Accounts payable 5.400 Ob42:33 2 Nov 5 Accounts payable Purchases discount 3 Nov 7 Cash Purchases IN 4 Nov. 10 Transportation in Cash CT 5 Nov 13 Accounts receivable Sales 6 Nov. 13 No Transaction Recorded 7 Nov. 16 Sales returns and allowances Accounts receivable MC Graw Hall li