Purchase-Reiated Transactons The debits and credits from four related transactions, (1) through (4), are presented in the following T accounts. Assume thac the freight terms mere fos anipeng pone. and that the credit terms were 1/10,n/30. a. Descnbe esch transaction. 1. Purchased merchandise on account net of discount 2. Paid frelght 3. An allowance for return of merchandise was granted by the credikok: = V 4. Paid the balance due within the discount period : V b. Determine the involce amount of the merchandse that was returnedi in (3)