13 Mc Graw Help Save & Ext Submit Juniper Company uses a perpetual inventory system and the gross method of accounting for purchases. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 26, it paid the full amount due. The correct journal entry to record the merchandise return on August 11 Multiple Choice Debt Accounts Payable $1500, credit Cash $1,500 Debit Accounts Payable $1,500, creds Merchandise Inventory $1,500 Debit Merchandise invertory $1.500, credit Sales Returns and Allowances $1.500 Debit Merchandise Inventory $1,500, et Cash $1500 Debt Accounts Payable $1500; creat Purchase enms and Alowances $1500