The cost of the merchandise is $756. Note: Enter debits before credits. Journal entry worksheet Dollar Store purchases merchandise for $1,400 on terms of 2/5,n/30,FOB shipping point, invoice dated November 1. Note: Enter debits before credits. The returned items cost $150; the items were not damaged and were returned to inventory. Note: Enter debits before credits. Dollar Store discovers and returns $200 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund. Note: Enter debits before credits. Journal entry worksheet Dollar Store pays cash for the November 1 purchase. Note: Enter debits before credits. Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $300. Note: Enter debits before credits. Dollar Store pays $70 cash for transportation costs for the November 1 purchase. Note: Enter debits before credits. Dollar Store sells merchandise for $1,512 with terms n/30. Note: Enter debits before credits. Exercise 4-12 (Algo) Recording purchases, sales, returns, and shipping LO P1, P2 Following are the merchandising transactions of Dollar Store. November 1 Dollar Store purchases merchandise for $1,400 on terms of 2/5,n/30, Fo8 shipping point, invoice dated November 1. November 5 Dollar Store pays cash for the November 1 purchase. November 7 Dollar Store discovers and returns $200 of defective merchandise purchased on November 1 , and paid for on November 5, for a cash refund. November 10 Dollar Store pays $70 cash for transportation costs for the November 1 purchase. November 13 Dollar Store sells merchandise for $1,512 with terms n/30. The cost of the merchandise is $756. November 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned itens are priced at $300 and cost $158; the items were not damaged and were returned to inventory. Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual iqventory system and the gross method