Meteor Co, purchased merchandise on March 4, 2021, at a price of $40,000, subject to credit terms of 4/10, 1/30. Meteor uses the net method for recording purchases and uses a periodic Inventory system. Required: 1. Prepare the journal entry to record the purchase. 2. & 3. Prepare the journal entries to record the appropriate payment if the entire invoice is paid on March 11, 2021 and April 2, 2021 Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Prepare the journal entries to record the appropriate payment if the entire invoice is paid on March 11, 2021 and April 2, 2021. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet Credit No 1 Debit 40,000 Date General Journal March 11, 2021 Accounts payable Purchase discounts lost Cash 1,600 38,400 40.000 2 April 02, 2021 Accounts payable Cash 40,000 Renda