E. Credit to Accounts Payaule 0 16. Which of the following statements are true regarding the gross and net methods of recording purchases? A. Both gross and net methods use a discounts lost account to track the value of discounts not taken. B. If an invoice is not paid within the discount period there is no entry to record in the gross method C. Both gross and net methods record a credit to cash on the payment date. D. Under the net method, payment within the discount period will be recorded with a credit to merchandise inventory. E. Both B and C are true statements