11:58 PM Insert Draw Layout Review View Table Aria 12 B (mecuru casni receiveu against Accounts Receivable 2. Prepare journal entries to record each of the merchandising transactions assuming that the company records purchases using the net method and a perpetual inventory system. Nov. 5 Purchased 600 units of product at a cost of $10 per unit. Terms of the sale Nov. 7 Returned 25 defective units from the November 5 purchase and received full Nov. 15 Paid the amount due from the November 5 purchase, less the return on are 2/10, n/60; the invoice is dated November 5 credit. November 7
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