5. Gruber & Moore, Inc. properly recorded the purchase of $5,000 of inventory with terms 2/10, n/30 on June 1st. The company paid cash for the goods on June 7th and earned the offered discount. How would the company record the June 7th cash payment in their accounting records assuming use of the perpetual inventory method? a. Debit accounts payable for $5,000, credit cash for $4,900 and credit inventory $100. b. Credit accounts payable for $5,000 and debit cash for $5,000. c. Debit accounts payable for $5,000, credit cash for $4,950 and credit inventory $50. d. Credit accounts payable for $4,950 and debit cash for $4,950. e. Debit accounts payable for $4,900, credit cash for $5,000 and debit inventory $100. 6. What would be the annualized interest rate earned under purchase terms "1/10, net 60" (assuming a 360-day year)? In other words, what is the maximum annualized interest rate a company could borrow at and still be equal to or better off by taking the discount? Show your work