1. Dollar Store purchases merchandise for $2,200 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1 2. Dollar Store pays cash for the November 1 purchase 3. Dollar Store discovers and returns $150 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund 4. Dollar Store pays $110 cash for transportation costs for the November 1 purchase 5. Dollar Store sells merchandise for $2,376 with terms n/30 6. The cost of the merchandise is $1,188 7. Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $230 8. The returned items cost $115; the items were not damaged and were returned to inventory I just need to know the general journal, Debt, and Credit
1. Dollar Store purchases merchandise for $2,200 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1
2. Dollar Store pays cash for the November 1 purchase
3. Dollar Store discovers and returns $150 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund
4. Dollar Store pays $110 cash for transportation costs for the November 1 purchase
5. Dollar Store sells merchandise for $2,376 with terms n/30
6. The cost of the merchandise is $1,188
7. Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $230
8. The returned items cost $115; the items were not damaged and were returned to inventory
I just need to know the general journal, Debt, and Credit
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