Question 14 Your answer is partially correct. Try again. Sunland Co. records purchases at net amounts and uses periodic inventories. Prepare entries for the following: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) June 11 Purchased merchandise on account, $19,500, terms 3/10, n/30. 15 Returned part of June 11 purchase, $900, and received credit on account. 30 Prepared the adjusting entry required for financial statements. Date Account Titles and Explanation Debit Credit T June 11 TPurchases 18536.7 T Accounts Payable 18536.7 June 15 ITAccounts Payable Sales Returns and Alloy 873 June 30 - TPurchase Discounts Lost 365 Accounts Payable 365