Purchases Transactions Barans Company purchased merchandise on account from a supplier for $8,900, terms 2/10, n/30. Barans returned $1,300 of the merchandise and received full credit. a. If Barans Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar. b. What account is debited by Barans Company to record the return? Accounts Payable Feedbeck Check My Work (a) Since buyers normaly take all purchase dscounts, the net purchase price is recorded at the time of purchase. If the buyer makes a retun of merchandise or is granted a price alowance for an invoice w price less the discount )Any discounts or retuns are recorded directly by the buyer who reduces the balances of Accounts Payable and Merchandise Inventory, using a debit memo based on the net cost of the merchandise Leaming Objectve 2