Checker pays within the discount period and subsequently discovers the merchandise is all defective

Accounting Nov 09, 2020

Checker pays within the discount period and subsequently discovers the merchandise is all defective. It is all returned for full credit.
The credit will not necessitate a journal entry as it will just be offset against the next purchase
The credit will be for $500
The credit will be to the Purchases account in Checker's general ledger
None of the above statements are correct
The credit will be for some other amount