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Purchases Transactions Nleman Company purchased merchandise on account from a supplier for 56,400, terms 1/10,6/30. Nieman returned $1,200 of the merchandise and received full credit.

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Purchases Transactions Nleman Company purchased merchandise on account from a supplier for 56,400, terms 1/10,6/30. Nieman returned $1,200 of the merchandise and received full credit. a. If Nieman Company pays the invoices 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 Nieman Company to record the return

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