ABC Company purchased $10,000 of merchandise on account from XYZ Company; terms are 3/10, n/30, FOB destination. If ABC uses a periodic inventory system, the entry required to purchase the inventory at gross would include: a debit to Merchandise Inventory for $9,700; a debit to Purchase Discount for $300; and a credit to Account Payable for $10,000 a debit to Merchandise Inventory for $10,000 and a credit to Account Payable for $10,000 a debit to Purchases for $9,700; a debit to Purchase Discount for $300; and a credit to Account Payable for $10,000 a debit to Purchases for $10,000; a credit to Purchase Discount for $300; and a credit to Account Payable for $9,700 a debit to Merchandise Inventory for $10,000; a credit to Purchase Discount for $300; and a credit to Account Payable for $9,700 a debit to Purchases for $10,000 and a credit to Account Payable for $10,000