A company purchased $11,600 of merchandise on January 5 with terms 2/10, 1/30. On January 7, it returned $750 worth of merchandise. On January 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on January 12 is: Multiple Choice Debit Accounts Payable $11,600; credit Cash $11,600 O Debit Accounts Payable $11,600; credit Merchandise Inventory $232; Credit Cash $11.368. Debit Cash $10,850, credit Accounts Payable $10,850