November 1 Dollar Store purchases merchandise for 2 300 on

Last updated: 9/5/2023

November 1 Dollar Store purchases merchandise for 2 300 on terms of 2 5 n 30 FOB shipping point invoice dated November 1 November 5 Dollar Store pays cash for the November 1 purchase November 7 Dollar Store discovers and returns 250 of defective merchandise purchased on November 1 and paid for on November 5 for a cash refund November 10 Dollar Store pays 115 cash for transportation costs for the November 1 purchase November 13 Dollar Store sells merchandise for 2 484 with terms n 30 The cost of the merchandise is 1 242 November 16 Merchandise is returned to the Dollar Store from the November 13 transaction The returned items are priced at 230 and cost 115 the items were not damaged and were returned to inventory Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross method View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 Dollar Store purchases merchandise for 2 300 on terms of 2 5 n 30 FOR