A sales invoice included (he following information: merchandise price, $10, 000; freight. S900; terms l/iu. n/eom, FOB shipping point. Assuming that a credit for merchandise returned of $500 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller? $10, 305 $9, 306 $9, 900 $9, 500 Under the periodic inventor)' system, the journal entry to record the cost of merchandise sold at the point of sale will include the following account Purchases Cost of merchandise sold No entry is made. Inventory