1. The entry to record a merchandise purchase of $6,000, with terms of 2/10, n/30, using a periodic inventory system would include a A) credit to Accounts Receivable for $6,000. B) credit to Purchases Discounts for $120 C) debit to Purchases for $6,000. D) credit to Accounts Payable for $5,880 2. Each of the following companies is a merchandising business except a A) candy store. B) car wash. C) Auto manufacturer. D) furniture store. 3. The journal entry to record the collection of a $400 account from our credit customer within the 2 percent discount period would include: A) debit to Accounts Receivable for $392 B) credit to Cash for $392. C) debit to Sales Discounts for $8. D) credit to Accounts Receivable for $392. An invoice for a merchandise purchased was received on October 1. The invoice totaled $1,100 which included $100 of shipping. The credit terms were 2/10, n/30. The company uses a periodic inventory method. The entry to record the payment on October 10 would include: A) credit Purchase Discounts $22 B) debit to Purchase Discounts $22 C) credit to Purchase Discounts $20