A company purchased $3,300 of merchandise on July 5 with terms 3/10, 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: Muitiple Choice Debit Morchendise liwentory $2,400; credit Cash $2,400 Debit Cash \$2.400; credit Accounts Poyable $2,400 Debt Accounts Payable $2,400, credt Merchandise inventory $72; credit Cash $2,328. Debit Accounts Payable \$3,300; credit Cosh \$3,300 Deblt Accounts Payable \$2,400; credit Cash 52,400