20) On July 1 , Corrao Company purchased $1500 of inventory on account with credit terms of 2/10, net 30. Corrao Company uses the perpetual inventory system. On July 5, Corrao Company paid the amount due. What journal entry did they prepare on July 5 ? A) debit Accounts Payable for $1500, credit Inventory for $30 and credit Cash for $1470 B) debit Accounts Receivable for $1500 and credit Cash for $1500 C) debit Accounts Payable for $1470 and credit Cash for $1470 D) debit Purchase Discount for $30, debit Accounts Payable for $1440 and credit Cash for $1470