A company purchased $1,900 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $250 worth of merchandise. On July 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 July 12 is: Multiple Choice Debit Accounts Payable $1,900; credit Cash $1,900. Debit Cash $1,650; credit Accounts Payable $1,650. Debit Accounts Payable $1,650; credit Merchandise Inventory $33; credit Cash $1,617. Debit Merchandise Inventory $1,650; credit Cash $1,650. Debit Accounts Payable $1,650; credit Cash $1,650.