33. Ramos Company receives a payment on account from Martinez Industries. Based on the original sale of $12,000 using the periodic inventory approach, Ramos honors the 3% cash discount and records the payment. Which of the following is the correct entry for Ramos to record? A) Cash 11,640 Sales Discounts 360 Inventory 12,000 B) Accounts Receivable 12,000 Cash 11,640 Purchase Discounts 360 C) Cash 11,640 Sales Discounts 360 Accounts Receivable 12,000 11,640 D) Cash 360 Purchase Discounts 12,000 Accounts Payable