Amarillo Company experienced the following events during its first accounting period. (1) Purchased $5,000 of inventory on account. (2) Returned $1,000 of the inventory purchased in Event 1. (3) Paid the remaining balance in accounts payable for the inventory purchased in Event 1. mmediately after the three events have been recognized, the balance in the inventory account is Multiple Choice $1,000 $4,000 $5,000. zero