Prepare the journal entries to record each of the following transactions, assuming a perpetual inventory system.

Show supporting calculations.

Apr 10 Purchased 500 units of a product at a cost of $15 per unit. Terms of the sale are 2/10, n/60. Apr 12 Returned 25 defective units from the Apr 10 purchase, and received full credit. Apr 20 Paid the amount due from the Apr 10 purchase, less the return on Apr 12