Purchase-Related Transactions Journalize entries for the following related transactions of Manville Heating & Air Company: a. Purchased $44,000 of merchandise from Wright Co. on account, terms 2/10, n/30. Merchandise Inventory Accounts Payable-Wright Co. Feedback Check My Wo 44,000 X 44,000 X a. A purchase increases inventory and the amount that is owed on account b. Paid the amount owed on the invoice within the discount period. Accounts Payable-Wright Co Cash 44,000 X 43,128 Check My Wi b. A payment of the invoice within the discount period reduces Accounts Payable for the amount of the invoice, reduces Cash for the amount of the invoice less the discount, and recends the discount a reduction in Merchandise Inventory e. Discovered that $8,000 of the merchandise purchased in (a) was defective and returned items, receiving credit Accounts Receivable-Wright Co 8434 c. Discovered that $8,800 of the merchandise purchased in (a) was defective and returned items, receiving credit. Accounts Receivable-Wright Co. Merchandise Inventory X 8,624 88,000 X Feedback Check My Work c. This transaction reduces Merchandise Inventory and the Accounts Payable. Since this return was made after pa the discount. d. Purchased $7,200 of merchandise from Wright Co. on account, terms n/30. Merchandise Inventory Accounts Payable-Wright Co. 7,200 7,200 Feedback Check My Work d. A purchase increases Merchandise Inventory and Accounts Payable. e. Received a refund from Wright Co. for return in (c) less the purchase in (d). Cash 1,424 Accounts Receivable-Wright Co. x 8,624 X