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Illustrate the effects of each of the transactions on the accounts and nancial statements of Epic Co. Identify each transaction by date. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases, cash outflows, and the income statement effects that reduce net income as negative amounts. Aug. 3. Purchased merchandise on account for $33,400, terms FOB destination, 2/10, n/30. --_-IEEIII Aug. 9. Issued debit memorandum for $2,500 ($2,450 net of 2% discount) for merchandise from the August 3 purchase that was damaged in shipment. ) \"null" Aug. 10. Purchased merchandise on account, $25,000, terms FOB shipping point, n/eom. Paid $600 cash to the freight company for delivery of the merchandise