Problem 3 Prepare the following journal entries using the net method of purchasing merchandise. 2/1 Purchased $15,000 of merchandise inventory on account, terms 2/10,n30. 2/9 Paid for the 2/1 purchase. 2/10 Purchased $20,000 of merchandise inventory on account, terms 1/10,n30. 2/10 Purchased $20,000 of merchandise inventory on account, terms 1/10,n30. Record the month end adjusting entry, if necessary