1:54 On September 12, Ryan Company sold merchandise in the amount of $6,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Johnson uses the perpetual inventory system and the net method of accounting for purchases. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Johnson makes on September 18 is: Multiple Choice O O Account Title Accounts Payable Merchandise Inventory Cash Account Title Cash Discounts Lost Accounts Payable Account Title Accounts Payable Merchandise Inventory Cash Debit 4,500 Debit 6,664 136 Credit 90 4,410 Credit 6,800 Debit Credit 6,800 136 6,664

On September 12, Ryan Company soid merchandise in the amount of $6.800 to Johnson Company, with credit terms of 2/10, ni30, The cost of the items sold is $4,500 Johnson uses the perpetual inventory system and the net method of accounting for purchases. Johnson pays the imvoice on September. 18, and takes the appropriate discount. The joumal entry that Johnson makes on September t8 is: Multipie-Chaice