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Juniper Company uses a perpecusafinventory syatem and the gross method of accounting for purchases, The company purchased 59750 of merchandise on August 7 whth terms 1/10, n30 On August 11 , it returned $1,500 worth of merchandise. On August 16,n paid the full amount due. The correct journal entry to record the purchase on August 7 is Mismide chaice Debit Merchandise Inwentory 59,750, credit Sales Retum? 51,500 , credit Cast $8,250 Debit Accounts Poyoble $8,250, debit Purchase Returns 51,500 , credit Merchandise lrivertory $9,750 Debit Accounts Payable \$9,750, credit Merchandise inventory $9,750. Juniper Company uses a perpecusafinventory syatem and the gross method of accounting for purchases, The company purchased 59750 of merchandise on August 7 whth terms 1/10, n30 On August 11 , it returned $1,500 worth of merchandise. On August 16,n paid the full amount due. The correct journal entry to record the purchase on August 7 is Mismide chaice Debit Merchandise Inwentory 59,750, credit Sales Retum? 51,500 , credit Cast $8,250 Debit Accounts Poyoble $8,250, debit Purchase Returns 51,500 , credit Merchandise lrivertory $9,750 Debit Accounts Payable \$9,750, credit Merchandise inventory $9,750