work Help Seve & Eats Check my w 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. Nov. 5 Purchased 1,400 units of product at a cost of $40 per unit. Terms of the sale are 5/10, n/60; the invoice is dated November 5. Nov. 7 Returned 25 defective units from the November 5 purchase and received full credit. Nov. 15 Paid the amount due from the November 5 purchase, less the return on November 7. View transaction list View journal entry worksheet Date General Journal Debit Credit 1 Nov 05 Merchandise inventory Accounts payable 2 Nov 07 Accounts payable Merchandise inventory Nov 15 Accounts payable Prev 1 of 5 !!! Next > ere to search DELL *TETTO aw R io N Journal entry worksheet Received payment for the amount due from the April 1 sale less the return on April 4. Note: Enter debits before credits Date Apr 11 Debit Credit General Journal Cash Accounts receivable Record entry Clear entry View general journal earch O t e moshe e E DELL * oon 00 work Help Seve & Eats Check my w 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. Nov. 5 Purchased 1,400 units of product at a cost of $40 per unit. Terms of the sale are 5/10, n/60; the invoice is dated November 5. Nov. 7 Returned 25 defective units from the November 5 purchase and received full credit. Nov. 15 Paid the amount due from the November 5 purchase, less the return on November 7. View transaction list View journal entry worksheet Date General Journal Debit Credit 1 Nov 05 Merchandise inventory Accounts payable 2 Nov 07 Accounts payable Merchandise inventory Nov 15 Accounts payable Prev 1 of 5 !!! Next > ere to search DELL *TETTO aw R io N Journal entry worksheet Received payment for the amount due from the April 1 sale less the return on April 4. Note: Enter debits before credits Date Apr 11 Debit Credit General Journal Cash Accounts receivable Record entry Clear entry View general journal earch O t e moshe e E DELL * oon 00