Chart of Accounts Journal Instructions Journal entre for the towing related transactions of thing & Ar Company using the net method under a peretilory system. Refer to the Chart of Accounts for exad wording of accounts A Purchased 536,000 of merchandise from Schell on account, terms 1/10,30 8 Paid the amount owed on the me c. Discovered that merchandise with an invoice amount of 59.000 purchased in (a) was detective and returned terms, receiving credit D. Purchased 55,000 of merchandise trom Schola on account, tom 1/30 E Received a refund from Schel Co for return in (C) less the purchase in (D)