Amarillo Company experienced the following events during its first accounting period. (1) Purchased $5,000 of inventory on account under terms 1/10/ in30. (2.) Returned $4000 of the inventory purchased in Event 1 . (3) Paid the remaining balance in account payable within the discount period for the inventory purchased in Event 1. Immediately after the three events have been recognized, the balance in the inventory account is Multiple Choice $3,960. 54,000 Amarillo Company experienced the following events during its first accounting period. (1) Purchased $5,000 of inventory on account under terms 1/1030, (2) Returned $1,000 of the inventory purchased in Event 1 . (3) Paid the remaining balance in account payable within the discount period for the inventory purchased in Event 1. Based on this information, which of the following shows how paying off the account payable account (Event 3) will affect the Company's financial statements? Multipie Choice Amarilo Company experienced the following events during its first accounting period. (1) Purchased $5,000 of inventory on account under terms 11030. (2) Retumed $1,000 of the inventory purchased in Event 1. (3) Paid the remaining balance in account payable for the inventory purchased in Event 1 . If the Company pays the account payable after the discount period has expired, how much cash will be required to settle the liability? Multiple Chaice $3,960. $4,000 $5,000