Complete the necessary journal entries for the company below. a. ABC Co purchased $1,000 of inventory on account. b. ABC Co. returned $400 of the purchased. c. ABC Co. paid the bill. Complete the necessary journal entries for the company below. a. ABC Co purchased $1,000 of inventory on account. Credit Terms 2/10,n/30. b. ABC Co paid for shipping of $50 for the purchase. (FOB Shipping Point) c. ABC Co, returned $400 of the purchased. d. ABC Co. paid the bill within the discount period. elect account balances from ABC Company's adjusted trial balance for last year are listed below. Prepare a multi-step income. tatement for last year. Complete the necessary journal entries for the company below. a. ABC Co purchased $1,000 of inventory on account. Credit Terms 3/10,n/30. b. ABCCO. returned $400 of the purchased. c. ABC Co, paid the bill. d. ABCCO. paid the bill after the discount period