PrintItem Tiburce from Cengage Learning Purchase-Related Transactions ournalize entries for the following related transactions of Lilly Heating & Air Company using the net method under a perpetual inventory system. (If an amount box does not require an entry, leave it blank.) a. Purchased $36,000 of merchandise from Schell Co. on account, terms 1/10, n/30. Inventory Accounts Payable-Schell Co Feedback Check My Work 25,740 X 25,740 X b. Paid the amount owed on the invoice. Accounts Payable-Schell Co Cash Feedback Check My Work 25,340 X 25,740 X e. Discovered that merchandise with an invoice amount of $9,000 purchased in (a) was defective and returned items, receiving credit. Accounts Payable-Schell Co Inventory - 5,348 X 5.148 X Feedback