5) A company purchased inventory for $7/4,000 from a vendor on account, FOB shipping point, with terms of 2/10, n/30. The company paid the shipper $1,600 cash for freight in. The company paid the vendor nine days after the invoice date. If there was no beginning inventory, the cost of inventory would be (Assume a perpetual inventory system) A) $70,180 B) $73,380 C) $74,120 D) $75,600 6) The terms of an invoice are 3/10, n/25. This means that a of the invoice date. A) discount of 3 percent is allowed if the invoice is paid within 10 days after the invoice date B) discount of 10 percent is allowed if the invoice is paid within three days after the invoice date C) discount of 25 percent is allowed if the invoice is paid within 10 days after the invoice date D) discount of 3 percent is allowed if the invoice is paid after 25 days after the invoice date Under which of the following terms will the buyer be required to pay transporta tation costs? A) FOB shipping point C) FOB destination B) delivery expense D) freight out A company that uses the perpetual inventory system purchases inventory for $62,000 on account, with terms of 2/10, n/30. Which of the following is the journal entry to record the payment made within 10 days? A) a debit to Accounts Payable for $60,760, a debit to Merchandise Inventory for $1,240, and a B) a debit to Accounts Payable for $62,000, a credit to Merchandise Inventory for $1.240, and a C) a debit to Accounts Payable for $62,000, a credit to Cash for $1.240, and a credit to D) a debit to Merchandise Inventory for $1.240, a debit to Accounts Payable for $62,00,and a credit to Cash for $62,000 credit to Cash for $60,760 Merchandise Inventory for $60,760 credit to Cash for $63,240