Purchase-Related Transactions Illustrate the effects on the accounts and financial statements of the following related transactions of Bowen Inc. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts a. Purchased $400,000 of merchandise from Swanson Co. on account, terms 1/10, n/30. Balance Sheet Statement of Income Assets Liabilities + Stockholders' Equity Cash Flows Statement No Effect + Inventory Accounts Payable No Effect Statement of Cash Flows Income Statement Investing b. Paid the amount owed on the invoice within the discount period. Balance Sheet Statement of Income Assets Liabilities Stockholders' Equity Cash Flows Statement Cash + No Effect Accounts Payable No Effect Statement of Cash Flows Income Statement Operating c. Discovered that $60,000 of the merchandise was defective and returned items, receiving credit. Balance Sheet Statement of Income Assets Liabilities +Stockholders' Equity Cash Flows Statement No Effect + Inventory Accounts Payable No Effect Statement of Cash Flows Income Statement Investing d. Purchased $35,000 of merchandise from Swanson Co. on account, terms 1/10, n/30. Balance Sheet Statement of Assets Liabilities +Stockholders' Equity ers' Equity Income Cash Flows Statement No Effect + Inventory Accounts Payable No Effect Statement of Cash Flows Income Statement Investing e. Received a check from Swanson Co. for the balance owed from the return in (c), after deducting for the purchase in (d). Balance Sheet Statement of Assets Liabilities +Stockholders' Equity Cash Flows Statement Cash + No Effect Accounts Payable No Effect Statement of Cash Flows Income Statement Operating