ABC debits Account Receivable for $10,000; XYZ credits Account Payable for $10,000 O ABC debits Account Receivable for $9,700; XYZ credits Account Payable for $9,700 QUESTION 12 2 points 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 net would include 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 O 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 $9,700 and a credit to Account Payable for $9,700 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 $9,700 and a credit to Account Payable for $9,700 QUESTION 13 2 points ABC Company purchased $10,000 of merchandise on account from XYZ Company; terms are 3/10, n/30, FOB destination. If ABC uses a perpetual inventory system, the entry required to purchase the inventory at gross would include 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 $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 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 Merchandise Inventory 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 and a credit to Account Payable for $10,000 Click Save and Submit to save and submit. Click Save All Answers to save all answers Save All Answers Close Window