Recording Purchases 1,000 bags of insulation shipped to its warehouse. Compass returned 50 bags that were defective bnd paid for the resalnser, Assume bat Compast uses the gerpetual imventory system and that Glassco did not offer a burchase disceum. Required: 3. Prepare the entry for the retum of the defective bogs. If an amount box dses not require an entiyi iteaye if banki Round to the nearest cent. 4. Prepare the entry to record the payment for the bags kect by compass. If an amount bok does not require an entrv. laave it bark; Round to the nearest cent. F.. What is the toeal cost of bis purchase? Round to the nearest cein