Hi, any help is appreciated on the following accounting balance sheet question:

I acquired merchandise inventory with a list price of 75000 on account from suppliers.
I assume that is a debit to inventory, credit to accounts payable.

I discover that $800 of this inventory is defective and I return it to the supplier for a full credit.
I assume that is a debit to accounts payable, and a credit to inventory.

Here is where I get really confused:
I pay invoices for merchandise inventory above with an original list price of $60000, after deducting a discount of 3% for prompt payment. The firm treats cash discounts as a reduction in the acquisition cost of merchandise inventory.

I don't know what to debit. If I returned $800 already, then I only have $74200 to deal with. But then it says I only pay $60000, minus a 3% discount, which would be $58200. What would I do with the difference between the $74200 and the $58200?

Later, I discover $1500 of the inventory is defective and I return it. I did not get paid back for it yet.
So that would result in a debit to accounts receivable and a credit to inventory.

Any help is greatly appreciated.