Prepare the necessary journal entries to record the following transactions

Prepare the necessary journal entries to record the following transactions Prepare the necessary journal entries to record the following transactions, assuming a periodic inventory system: (a) Purchased $400,000 of merchandise on account, terms 2/10, n/30. (b) Returned $40,000 of damaged merchandise for credit. (c) Paid for the merchandise purchased within 10 days. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help