xplanations from journal entries. Assume the company records sales at the net amount. Round all numbers he nearest whole dollar.) (Click the icon to view the transactions.) eb. 3: Purchased $3,000 of merchandise inventory on account under terms 1/10,n/EOM and FOB shipping oint from Sascha's Nest. Feb. 3 Purchased $3,000 of merchandise inventory on account under terms 1/10,n/EOM and FOB shipping point from Sascha's Nest. Fb. 7 Returned $400 of defective merchandise purchased on February 3. Feb. 9 Paid freight bill of $600 on February 3 purchase. Feb. 10 Sold merchandise inventory on account for $4,100 to Tristan's Sanctuary. Payment terms were 2/15,n/30. These goods cost the company $2,050. Feb. 12 Paid amount owed on credit purchase of February 3, less the return and the discount. Feb. 28 Received cash from Tristan's Sanctuary in full settlement of their debt