Paid $336,000 to inventory suppliers on accounts payable of $344,000. The difference reflects purchase discounts of $8,000. What are the debits/credits.

Account balances are Cash$38,000 Accounts Receivable 35,000 Supplies 41,000 Inventory 69,000 Land 243,000 Accounts Payable $50,000 Notes Payable (5%, due next year) 36,000 Common Stock 202,000 Retained Earnings 138,000 Totals$426,000 $426,000