merchandise with a list price of 4700 is purchased on account, terms FOB shipping point 1/10, n/30. The seller prepaid costs of $100. Prior to payment $1400 of the merchandise is returned. The correct amount is paid within the discount period. Record the foregoing transaction of the buyer in the sequence indicated below assuming a perpetual inventory system is used. a. purchased the merchandise. b. record receipt of the credit memo for merchandise return. c. paid the amount owed.