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4-9 Exercise 4-9 Recording purchases, sales, returns, and shipping LO P1, P2 Following are the...

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Accounting

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4-9 Exercise 4-9 Recording purchases, sales, returns, and shipping LO P1, P2 Following are the merchandising transactions for Dollar Store. Nov. 1 Dollar Store purchases merchandise for $2,600 on terms of 2/5, n/30, POB shipping point, invoice dated November 1. 5 Dollar Store pays cash for the November 1 purchase 7 Dollar Store discovers and returns $200 of defective merchandise purchased on November and paid for on November 5, for a cash refund. 10 Dollar store pays $130 cash for transportation costs for the November 1 purchase 13 Dollar Store sells merchandise for $2,80 8 with terms n/30. The cost of the merchandise is $1,404. 16 Merchandise is returned to the Dollar store from the November 13 transaction. The returned items are priced at $290 and cost $145: the items were not returned to inventory. damaged and were Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross method

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