2 pts Question 10 A company using the perpetual inventory system purchased inventory worth $520,000 on account with credit terms of 2/15, n/45. Defective inventory of $70,000 was returned 2 days later, and the accounts were appropriately adjusted. If the company paid the invoice 25 days later, the journal entry to record the payment would be $520,000 debit to Accounts Payable, $511,000 credit to Cash, and $9,000 credit to Merchandise Inventory o $450,000 debit to Accounts Payable and $450,000 credit to Cash O $459.000 debit to Accounts Payable, $9,000 credit to Merchandise Inventory, and $450,000 credit to Cash $520,000 debit to Accounts Payable and $520,000 credit to Cash Advanced Computer Parts uses the perpetual inventory system. On May 5, Advanced sold merchandise with a cost of $2500 for $4500 to a customer on account with terms of 3/10, n/30. Which of the following journal entries correctly records the payment received from the customer on May 11? Cash 4365 Sales Discounts Forfeited 135 Accounts Receivable 4500 Cash 4365 Accounts Receivable 4365 Cash 4500 Accounts Receivable 4365 Sales Discounts Forfeited 135 Cash 2000 Accounts Receivable 2000 Question 12 2 pts Net sales revenue is calculated by O adding sales discounts and sales returns and allowances to sales revenue O subtracting sales discounts and selling expenses from sales revenue O subtracting sales discounts and estimated sales returns and allowances from sales revenue O subtracting cost of goods sold from sales revenue Question 13 2 pts Given the following information for Franklin Jewelers, by how much did the gross profit percentage go up or down from 2024 to 2025? 2024 2025 Net Sales $36,000 $21,000 Cost of Goods Sold $27,000 $7,350 O Up by 25% O down by 65% O up by 65% O down by 25%