a company purchased $2,500 of merchandise on July 5 with terms 2/10, n/30,. On july 7, it returned $550 worth of merchandise . on july 12, it paid the full amount due. assuming the conpany uses a perpetual inventory system , and records purchases using the gross method , the correct journal entry to record this payment on july 12 is

A company purchased $2.500 of merchandise on July 5 with terms 2/10, 1/30. On July 7. it returned $550 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 0 Debit Merchandise Inventory $1950, credit Cash $1950 Debit Cash $1,950, credit Accounts Payable $1.950 O Debit Accounts Payable $1950, credit Merchandise inventory $39. Credit Cash $1,911 O O Debit Accounts Payable $2.500 Credit Cash $2,500 O O Debit Accounts Payable $1950. Credit Cash $1,950 Multiple Choice Debit Merchandise Inventory $1,950; credit Cash $1,950. Debit Cash $1,950, credit Accounts Payable $1,950. Debit Accounts Payable $1.950; credit Merchandise Inventory $39. credit Cash $1,911, Debit Accounts Payable $2,500; credit Cash $2,500. Debit Accounts Payable $1,950; credit Cash $1.950