A company purchased $3,200 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $900 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 Merchandise inventory $2.300: credit Cash $2,300 Debit Cash $2.300, credit Accounts Payable $2.300 Debit Accounts Payable $2.300 credit Merchandise inventory $46. credit Cash $2.254 Debit Accounts Payable $3,200 credit Cash $3,200 Debit Accounts Payable $2.300 credit Cash $2.300