Hyment. e. Cash E4-6 Purchase-related transactions Illustrate the effects on the accounts and financial statements of the following related trans- actions of Bowen Inc. Purchased $400,000 of merchandise from Swanson Co, on account, terms 1/10, n/30. b. Paid the amount owed on the invoice within the discount period. c. Discovered that $60,000 of the merchandise was defective and returned items, receiving credit. d. Purchased $35,000 of merchandise from Swanson Co. on account, terms 1/10, 1/30. e. Received a check from Swanson Co, for the balance owed from the return in (c), after deducting for the purchase in (d)