Paramount Co., a women's clothing store, purchased $60,000 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30. Paramount Co. returned $12,000 of the merchandise, receiving a credit memo, and then paid the amount due within the discount period.

a.Journalize Paramount Co.'s entry to record the purchase.

b. Journalize Paramount Co.'s entry to record the merchandise return.

c. Journalize Paramount Co.'s entry to record the payment.

For a compound transaction, if an amount box does not require an entry, leave it blank.