Answer:
Dr Accounts payable 2,940
Dr Purchase discounts lost 60
Cr Cash 3,000
Explanation:
The original invoice was recorded as:
Dr Merchandise inventory 5,880
Cr Accounts payable 5,880
When half the merchandise was returned:
Dr Accounts payable 2,940
Cr Merchandise inventory 2,940
When the invoice was paid after the discount period had expired:
Dr Accounts payable 2,940
Dr Purchase discounts lost 60
Cr Cash 3,000
