4) When a wholesaler is using the perpetual inventory method which two accounts are used when posting the sales transaction? A) Inventory and purchase returns B) Inventory and purchase discounts C) Inventory and purchases D) Inventory and cost of goods sold I A) $12,000B) $36,000C) $40,000D) $48,000 11) On July 1. 2019, the Jazz Corporation purchased a $4,000,000 of 10-year bonds dated July 1. 2019. at 89 when the market rate of interest was 8% Jazz Corporation uses the effective-interest method of amortization. Interest is paid each June 30 December 31. The entry to record the receipt of the first semi-annual interest payment on December 31, 2019, will include a: A) credit to Interest Revenue for $142,400 B) debit to Interest Receivable for $320,000 C) debit to Discount on Bonds for $284,800 D) credit to Premium on Bonds for $160,000