Required: Prepare appropriate journal entries including a key. If there is not an appropriate journal entry, write none after the key. Be sure to include a key and indent the credit account titles and amounts. (a) On January 1, the beginning inventory was $ 100,000. (b) During the year, management purchased $ 1,500,000 in inventory on account with credit terms 1/10, n/30. (c) After inspection, goods costing $ 50,000 were shipped back to the suppliers. (d) All suppliers were paid within 10 days. (e) During the year, goods costing $ 1,325,000 were sold for $ 2,000,000 on terms 1/15, n/30. (f) Management paid $ 30,000 in freight cost on goods shipped to customers F.O.B. destination point. (g) During May, several shipments were late and management granted allowances on accounts totaling $ 25,000 to satisfy their customers. (h) All collections were made within 15 days. (i) At the end of the year, the inventory records indicated that the inventory cost was $ 210,500. However, a physical count of the inventory indicated the cost of the inventory to be $ 200,000.