The following transactions occurred during the month of November in the operation of Wonderful Buy, Inc, a retailer of electronic merchandise. Record each transaction listed below to show its impact...

1. The following transactions occurred during the month of November in the operation of Wonderful Buy, Inc, a retailer of electronic merchandise.   Record each transaction listed below to show its impact on the accounting equation in the table provided on the next page for that purpose.  For any entry that impacts Retained Earnings, write a brief description in the column provided.

• 
  November 4
  Purchased merchandise for $7,000 on account from International

                                    Fragrance Corporation, terms: 3/10, n/60.

• 
  November 16
  Sold merchandise to a customer on account for $6,500,

                                    terms 2/10, n/30.  The merchandise had cost Wonderful Buy’s $3,200.

• 
  November 18
  Sold merchandise to a customer for cash, $850. The merchandise had cost

Wonderful Buy’s $350.

• 
  November 19
  Customer returned $200 of the merchandise from the sale on

November 18 and was given a refund.  The merchandise had cost

Wonderful Buy’s $90.

• 
  November 26
  Received full amount due from the customer for the sale of

                        November 16.

• 
  November 27
  Paid shipping charges
  on merchandise purchased on November 4,

                       $250

• 
  November 30
  Recorded the shrinkage adjustment. The inventory on hand as determined

                       by taking a physical inventory at the end of November is $3,200.