1.On March 15, 2016, Ryan Company purchased $10,000 of merchandise on credit subject to terms of 2/10, n/30. Ryan Company records its purchases using the gross amount. The periodic inventory system is used. Which of the following journal entries is correct when Ryan Company pays for these goods on March 20, 2016? A. Accounts Payable 9,800 Cash 9,800 B. Accounts Payable 10,000 Cash 10,000 C. Accounts Payable 10,000 Cash 9,800 Purchase Discounts 200 D. Accounts Payable 9,800 Purchase Discounts 200 Cash 10,000 2.Which of the following costs is not included as inventory on the balance sheet? A. Raw materials currently being used in the manufacturing process. B. Work in process. C. Finished goods. D. Storage costs for finished goods