A corporation uses the perpetual inventory system. On May 1, it purchased merchandise on account for $10,000 with terms 2/10, n/30. It pays a shipping company $200 to transport the merchandise from the seller. It returns merchandise with an invoice price of $1,000 to the seller on May 7. On May 30, it pays for the merchandise it retains. How would it record the payment on May 30 for the merchandise it retained? O Debit accounts payable for $9,000; credit cash for $8,820; and a credit to purchase discounts for $180. Debit accounts payable for $9,000; credit inventory for $9,000. Debit accounts payable for $9,000; credit cash for $8,820; and credit inventory for $180. O Debit accounts payable for $10,000; credit cash for $10,000. O Debit accounts payable for $9,000; credit cash for $9,000.

A corporation uses the perpetual inventory system. On May 1, it purchased merchandise on account for $10,000 with terms 2/10,n/30. It pays a shipping company $200 to transport the merchandise from the seller. It returns merchandise with an invoice price of $1,000 to the seller on May 7. On May 30, it pays for the merchandise it retains. How would it record the payment on May 30 for the merchandise it retained? Debit accounts payable for $9,000; credit cash for $8,820; and a credit to purchase discounts for $180. Debit accounts payable for $9,000; credit inventory for $9,000. Debit accounts payable for $9,000; credit cash for $8,820; and credit inventory for $180. Debit accounts payable for $10,000; credit cash for $10,000. Debit accounts payable for $9,000; credit cash for $9,000