Marx Wholesale has the following transactions during the month of July, 2021: July 1 Purchased inventory from Groucho Inc. for $20,000, FOB destination, terms 2/10 N/30. July 2 The appropriate company paid $100 freight on the July 1 purchase. Returned $4,000 worth of goods to Groucho as they were the wrong July 6 colour. July 7 Sold half of the remaining inventory purchased from Groucho to Chico Inc. for $12,000, FOB destination, terms 2/20 N/30. July 8 The appropriate company paid $90 freight on the July 7 sale. July 10 Paid Groucho the entire amount owed to him. July 12 Purchased inventory worth $6,000 from Harpo Inc., FOB shipping point, terms 3/15 N/45. July 13 The appropriate company paid $50 freight on the July 12 purchase. July 17 Sold half of the inventory purchased from Harpo to Zeppo Ltd. for $5,000, FOB shipping point, terms 1/10 N/20. July 18 The appropriate company paid $60 freight on the July 17 sale. July 22 zeppo returned $1,500 worth of the goods bought on July 17 as you shipped the wrong size. July 25 Zeppo paid their outstanding balance. July 30 Chico paid their outstanding balance. July 31 Paid Harpo the entire amount owed to him. Record all of the transactions into the expanded accounting equation, with account names, and then answer the following questions. Question 19 (1 point) Saved How would Marx Wholesale record the July 10 transaction? a) Decrease Cash and Accounts Payable only. b) Decrease Cash and Inventory, and increase Accounts Payable. c) Decrease Cash and increase both Inventory and Accounts Payable. d) Decrease Cash and Accounts Payable, and increase Inventory. e) Decrease Cash, Inventory, and Accounts Payable. Question 20 (2 points) How much does Marx Wholesale pay Groucho on July 10? A Question 21 (1 point) How would Marx Wholesale record the July 12 transaction? a) Increase both Accounts Payable and Purchases b) Increase both Accounts Payable and Inventory Expense c) Increase both Purchases and Inventory d) Increase both Purchases and Inventory Expense e) Increase both Accounts Payable and Inventory Question 22 (1 point) How would Marx Wholesale record the July 13 transaction? a) Increase both Freight Expense and Inventory b) No entry c) Increase Freight Expense and decrease Cash O d) Increase Inventory and decrease Cash e) Increase both Inventory and Accounts Payable Question 23 (1 point) How would Marx Wholesale record the July 17 transaction? a) Increase Sales and Accounts Receivable $5,000 each b) Increase Sales and Accounts Receivable $3,000 each, and increase Cost of Goods Sold and decrease Inventory $5,000 each c) Increase Sales and Accounts Receivable $5,000 each, and increase Cost of Goods Sold and decrease Inventory $5,000 each d) Increase Cost of Goods Sold and decrease Inventory $3,000 each e) Increase Sales and Accounts Receivable $5,000 each, and increase Cost of Goods Sold and decrease Inventory $3,000 each