Purchase-Related Transactions Journalize entries for the following related transactions of Lilly Heating \& Air Company using the net method under a perpetual inventory system. (If an amount box does not require an entry, leave it blank.) a. Purchased $35,000 of merchandise from Schell Co. on account, terms 2/10,n/30. b. Paid the amount owed on the invoice. c. Discovered that merchandise with an invoice amount of $7,000 purchased in (a) was defective and returned items, receiving credit. d. Purchased $5,400 of merchandise from Schell Co. on account, terms n/30. a. Purchased $35,000 of merchandise from Schell Co. on account, terms 2/10,n/30. b. Paid the amount owed on the invoice. c. Discovered that merchandise with an invoice amount of $7,000 purchased in (a) was defective and returned items, receiving credit. d. Purchased $5,400 of merchandise from Schell Co. on account, terms n/30. e. Received a refund from Schell Co, for return in (c) less the purchase in (d). a. Purchased $35,000 of merchandise from Schell Co. on account, terms 2 e amount of $7,000 purchased d. Purchased $5,400 of merchandise from Schell Co. on account, terms n/30. e. Received a refund from Schell Co. for return in (c) less the purchase in (d)