Take me to the text For each business transaction in the table below, identify which accounts are debited and credited. Do this for the periodic inventory system. Consider each transaction separately, Where a transaction has two accounts that are affected list balance sheet accounts before income statement accounts. If both accounts are balance sheet accounts, list cash first, Please select the appropriate choice based on the above instructions. Balance sheet accounts should be listed If the cash account is impacted, it should appear income statement accounts. No. 1 Purchased inventory on account. Transaction: 2. Returned a portion of the inventory purchased in transaction 1. 3. Paid for the remaining invoice balance after taking advantage of the early payment discount 4 Sold inventory on account. 5 Customer found a portion of the goods sold in transaction 4 were of lower quality. However, he agreed to keep them at a 10% discount Customer paid the remaining invoice balance after taking the advantage of an early payment 6. discount Periodic Inventory System DR CR Accounts Payable x Incorrect Mark 0.00 out of 1.00 = =