QS $4-5($Algo$)$ Recording purchases, returns, and discounts taken LO P$1$

Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross method.

November $5$ Purchased $500$ units of product at a cost of $$12$ per unit. Terms of the sale are $\frac{5}{10},\frac{n}{60}$; the invoice is dated November $5.$

November $7$ Returned $40$ defective units from the November $5$ purchase and received full credit.

November $15$ Paid the amount due from the November $5$ purchase, minus the return on November $7.$

$\backslash$table$[[$No$,$Date,Deneral Journal,Credit,$],[1,$November $05,$Merchandise inventory,$6,000,],[,,$Accounts payable,,$6,000],[,,,1,600,],[2,$November $07,$Accounts payable,,$1,600],[,,$Merchandise inventory,$4,150,],[3,$November $15,$Accounts payable,,$115],[,,$Merchandise inventory,,$5,635]]$