9) Assume the periodic inventory system. Krinkle Company sold inventory on account for $500 on May 8, 20X9, with terms of 2/10, n/30. On May 16, 20X9, the appropriate payment was received from the customer. Which of the following is the journal entry to record the March 16 transaction on Krinkle's books?

A) Cash 500

Accounts Receivable 500

B) Cash 490

Cash Discount on Sales 10

Accounts Receivable 500

C) Cash 490

Sales 10

Accounts Receivable 500

D) Cash 500

Cash Discount on Sales 10

Accounts Receivable 490

E) Cash 500

Sales 10

Accounts Receivable 490