February 3, Smart Company sold merchandise in the amount of $1800 to Truman Company, with credit terms of Vion/30. The cost of the items sold is $1240. Smart uses the perpetw/inventory system and the oss method. Truman pays the invoice on February 8, and takes the appropriate discount. The journal entry that Smart makes on February Multiple Choice Accounts receivable Prentice Company had cash sales of $94,650, credit sales of $83,675, sales returns and allowances of $1,850, and sales discounts of $3,625. Prentice's net sales for this period equal: Multiple Choice 594,650. $172,850. 8174,700 $176,475. 125 A company has net sales of $821,400 and cost of goods sold of $593,400. Its net income is $34,160. The company's gross margin and operating expenses, respectively, are: Multiple Choice $228,000 and $193,840 $228,000 and $262.630 o $559,240 and $262,630 $262,630 and $559,240 O $786,770 and $193,840 On September 12, Vander Company sold merchandise in the amount of $8.800 to Jepson Company with credit terms of 3/10, 1/30. The cost of the lems sold is $5,500. Jepson uses the periode inventory system and the gross method of accounting for purchases. The journal entry that Jepson will make on September 12 is: Multiple Choice 0 0 5,500 .00 0 0 Merchandise Sentos Recounts payable 0 A payable