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Journalize the following transactions using the perpetual inventory method.
Nov. 1 Purchased $3,600 of merchandise from Hilltop, terms 2/10, n/30.
Nov. 5 Purchased $1,750 of merchandise for cash from Owen's Supply.
Nov. 7 Purchased $3,400 of merchandise from Seaside, terms 1/15, n/30.
Nov. 10 Returned $500 of merchandise to Seaside. Credit Memo #131.
Nov. 11 Paid the invoice from Hilltop.
Commission
A fee paid to an agent or employee for facilitating a sale or service.
Real Estate Agent
A licensed professional who represents buyers or sellers in real estate transactions.
Transaction
A business deal or exchange between two or more parties, which can involve the transfer of goods, services, money, or information.
Torrens System
The Torrens system is a method of registering titles to land, named after Sir Robert Torrens, designed to simplify land transactions and provide clear ownership.
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