A company using the perpetual inventory system purchased inventory worth $550,000 on account with credit terms of 2/15, n/45. Defective inventory of $60,000 was returned 3 days later, and the accounts were appropriately adjusted. If the company paid the invoice 20 days later, the journal entry to record the payment would be $550,000 debit to Accounts Payable. $540,200 credit to Cash, and $9800 credit to Merchandise Inventory $490,000 debit to Accounts Payable and $490,000 credit to Cash $499,800 debit to Accounts Payable, $9800 credit to Merchandise Inventory, and $490,000 credit to Cash $550,000 debit to Accounts Payable and $550,000 credit to Cash