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Purchase-Related Transactions Poff's Co., a women's clothing store, purchased $25,000 of merchandise from a supplier on account, terms Foe destination, 1/10, 1/30. Poft's returned $4,000 of the merchandise, receiving a credit memo, and then paid the amount due within the discount period. a. Journalize Poff's Co.'s entry to record the purchase. If an amount box does not require an entry, leave it blank. Merchandise Inventory 23,740 X Accounts Payable Feedback Check My Work a. A purchase increases Merchandise Inventory and Accounts Payable. b. Journalize Poff's Co.'s entry to record the merchandise return. If an amount box does not require an entry, leave it blank. Accounts Payable Merchandise Inventory Feedback Check My Work b. A return reduces Merchandise Inventory and Accounts Payable in the purchaser's records c. Journalize Poff's Co.'s entry to record the payment. If an amount box does not require an entry, leave it blank. ol Accounts Payable AA Cash Previous Next >