7. VeCo, which uses the perpetual method, records merchandise purchases at gross. On October 3, VeCo buys $42,000 of merchandise on account. Terms are 2/10,n/40. On October 9, VeCo returns goods that cost $10,000. On October 11, VeCo pays $31,360. What entry does VeCo record on October 11? a. Accounts Payable 31,360 Cash 31,360 b. Accounts Payable 32,000 Cash 31,360 Purchase Discounts 640 c. Accounts Payable 32,000 Cash 31,360 Inventory 640 d. Accounts Payable 31,360 Purchase Discounts 640 Cash 31,360 Inventory