Ivanhoe Company purchased merchandise on account from Office Suppliers for $78,000, with terms of 1/10,n/30. During the discount period, Ivanhoe returned some merchandise and paid $63,162 as payment in full. Ivanhoe uses a perpetual inventory system. Prepare the journal entries that Ivanhoe Company made to record the: (1) (2) (3) purchase of merchandise. return of merchandise payment on account (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit No. Account Titles and Explanation (1) Inventory 78000 78000 Accounts Payable (2) Accounts Payable Inventory (3) Accounts Payable 63162 Cash Inventory Concord Company sold merchandise to Moore Company on account for $83,000 with credit terms of ?/10,n/30. The cost of the merchandise sold was $62,000. During the discount period, Moore Company returned $4,100 of merchandise and paid its account in full (minus the discount) by remitting $76,533 in cash. Both companies use a perpetual inventory system. Prepare the journal entries that Concord Company made to record the: (1) sale of merchandise (2) return of merchandise. (3) collection on account (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit No. Account Titles and Explanation (1) (To record credit sale) (To record cost of good sold) (2) (To record credit granted for returned goods) (To record cost of good returned) (3)