Trde Discount and Cash Discounts Merchandise was purchased on occount from Jacob's Distrbutors on May 17 . The purchase pnce was $2,000, iess a 10% thade Giscount and crede tertns of 2/10, n/30. 1. Calculate the net amount to record the invoice, less the 10% trade discount, 2. Calculate the amount to be paid on this invoice within the discount period. 3. Joumalize the purchase of the merchandise en May 17 in a general journal. Journalize the payment on May 27 (within the discount period)