Question: PLEASE EXPLAIN HOW YOU GOT THE ANSWER IN DETAIL SO I CAN UNDERSTAND, Purchase-Related Transactions Poff's Co., a women's clothing store, purchased $20,000 of merchandise

 PLEASE EXPLAIN HOW YOU GOT THE ANSWER IN DETAIL SO I

PLEASE EXPLAIN HOW YOU GOT THE ANSWER IN DETAIL SO I CAN UNDERSTAND,

Purchase-Related Transactions Poff's Co., a women's clothing store, purchased $20,000 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30. Poff's returned $3,400 of the merchandise, receiving a credit memo, and then paid the amount due within the discount period. a. Journalize Poff's Co.'s entry to record the purchase. If an amount box does not require an entry, leave it blank. Merchandise Inventory 20,000 X Accounts Payable 20,000 X Feedback b. Journalize Poff's Co.'s entry to record the merchandise return. If an amount box does not require an entry, leave it blank. Accounts Payable 3,268 Merchandise Inventory 3,268 X Feedback C. Journalize Poff's Co.'s entry to record the payment. If an amount box does not require an entry, leave it blank. Accounts Payable 16,732 Cash 16,732 X

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