Purchase-Related Transactions The debits and credits for four related entries for a purchase of $40,000, terms 2/10, 1/30, are presented in the following T accounts. Cash |(2) 450 34,300 (3) (4) Accounts Payable 4,900(1) 34,300 39,200 Merchandise Inventory (1) 39,200 (3) (2) Describe each transaction. 4,900 4501 1. 2. 3. 4. Previous Next Check My Work 3 more Check My Work uses remaining, Email Instructor Save and Exit Submit Assignment for Gra o tv A 19