eBook 34 Show Me How Print item Purchase-Related Transactions The stationery Company purchased merchandise on account from a supplier for $8,400, terms 1/10, 1/30, The Stationery Company returned $1,100 of the merchandise and received full credit a. 1 Stationery Company pays the involce within the discount period, what is the amount of cash required for the payment? 1. Under a perpetuaventory system, what account is credited by stationary Company to record the return Inventory Feed Check Wy Wom 3. Since buyers normally take all purchase discounts, the net purchase price is recorded at the time of purchase. If the buyer makes a return of merchandise or is granted a price allowance for an invoice with a purchase discount, the amount of the return is recorded at the invoice priceless the discount the huver who reduces the balances of Accounts Payable and Merchandise Inventory, using a