A company that uses the perpetual inventory system purchases inventory for $62,000 on account, with terms of 2/10, n/30.

Which of the following is the journal entry to record the payment made within 10 days?

a debit to Merchandise Inventory for $1,240, a debit to Accounts Payable for $62,000, and a credit to Cash for $63,240

a debit to Accounts Payable for $62,000, a credit to Merchandise Inventory for $1,240, and a credit to Cash for $60,760

a debit to Accounts Payable for $60,760, a debit to Merchandise Inventory for $1,240, and a credit to Cash for $62,000

a debit to Accounts Payable for $62,000, a credit to Cash for $1,240, and a credit to Merchandise Inventory for $60,760