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12 On September 12. Vander Company sold merchandise in the amount of $5,800 to Jepson Company with credit terms of 2/10, 1/30. The cost of

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12 On September 12. Vander Company sold merchandise in the amount of $5,800 to Jepson Company with credit terms of 2/10, 1/30. The cost of the items sold is $4.000. Jepson uses the periodic inventory system and the gross method of accounting for purchases. The journal entry that Jepson will make on September 12 is: Murple Choice Purchase Accounts receivable 4,000 4.000 O Merchandise inventory Accounts payable 3.800 1.800 Purchases Accounts receivable 5,000 O 5.800 Purchase Accounts payable 5,800 O Accounts payable Merchandise inventory 4.000 4.000 MC Graw H

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