I need to describe each transaction as either:

a) an allowance or return or merchandise was granted by creditor

b) purchased merchandise on account

c) paid the balance due within the discount period

d) paid freight

PurchaseRelated Transactions The debits and credits from four related transactions are presented in the following T accounts. Cash (2) 300 (4) 16,660 Accounts Payable (3) 3,920 (1) 20,580 (4) 16,660 Merchandise Inventory (1) 20,530 (3) 3,920 (2) 300 Describe each transaction