Merchandise with a list price of $7,500 is purchased on account, terms FOB shipping point, 1/10, n/30. The seller prepaid transportation costs of $300. Prior to payment, $2,000 of the merchandise is returned. The correct amount is paid within the discount period. Record the foregoing transactions of the buyer in the sequence indicated below. Purchased the merchandise. Recorded receipt of the credit memorandum for merchandise returned. Paid the amount owed