company that uses a perpetual inventory system purchased inventory on account and later returned goods worth $300 to the vendor. Which of the following would be the correct journal entry to record these returns? 1) A A) Accounts Payable Merchandise Inventory B) Purchase Returns Accounts Payable C) Accounts Payable Purchase Returns D) Merchandise Inventory Accounts Payable ) An invoice of $600 for merchandise purchased is showing 2/15, n/30 as terms of credit. If the invoice is paid on or before the fifteenth day after the invoice date, the amount to be paid is A) $612 B) $600 C) $615 D) 5588 )A company using the perpetual inventory system purchased inventory worth $24,000 on account with terms of 3/10, n/30. Defective inventory of $2,000 was returned two days later, and the accounts were appropriately adjusted. If the invoice is paid 10 days after the invoice date, the amount of the purchase discount that would be available to the company is A) $720 B) $740 C) $780 D) $660 A company that uses the perpetual inventory system purchased inventory for $970,000 on account with terms of 3/7, n/20. Which of the following correctly records the payment made 15 days after the date of invoice? A) Accounts Payable 29,1 940, Cash B) 970 Accounts Payable C) Merchandise Inventory 970, D) Accounts Payable Cash 970, 970,000