Journalize entries for the following related transactions of Lilly Heating & Air Company using the ne method under a perpetual inventory system. (If an amount box does not require an entry, leave it blank.) a. Purchased $40,000 of merchandise from Schell Co. on account, terms 1/10, n/30. b. Paid the amount owed on the invoice. lo 1. Discovered that merchandise with an invoice amount of $8,000 purchased in (a) was defective and returned items, receiving credit. d. Purchased $6,700 of merchandise from Schell Co. on account, terms n/30 e. Received a refund from Schell Co. for return in (c) less the purchase in (d). Check My Work 3 more Check My Work uses remaining Previous Next > All work saved. Save and Exit Submit Assignment for Grading W