Purchase-Related Transactions Journalize entries for the following related transactions of Lilly Heating & Air Company who uses the net method under a perpetual inventory system. (If an amount box does not require an entry, leave it bla a. Purchased $36,000 of merchandise from Schell Co on account, terms 1/10, 1/30. Inventory 35.280 Accounts Payable Schell Co. b. Paid the amount owed on the invoice Discovered that merchandise with an invoice amount of $9.000 purchased in () was defective and d. Pureased $5,000 of merchandise from Schell Co. on account, terms 30 Received a refund from Schell C for return in (c) less the purchase in (d)