Purchase Transactions and T Accounts 1. Purchase of merchandise with cash. Post the transactions in the given order. a. Merchandise is purchased for cash, $2,300. b. Merchandise listed at $4,000, less a trade discount of 10%, is purchased for cash. 2. Purchase of merchandise on account with credit terms. a. Merchandise is purchased on account, credit terms 2/10, n/30,$3,800. b. Merchandise is purchased on acrount credit terms 3/10n/30 \$7 700 3. Purchase of merchandise on account with return of merchandise. a. Merchandise is purchased on account, credit terms 2/10, n/30, $5,500. b. Merchandise is returned for credit before payment is made, $600. c. Payment is made within the discount period. 4. Purchase of merchandise with freight-in. a. Merchandise is purchased on account, $3,900 plus freight charges of $150. Terms of the sale were FOB shipping point. b. Payment is made for the cost of merchandise and the freight charge