Help Save & Ext On September 12, Vandelay Company sold merchandise in the amount of $8,000 to Jepson Company, with credit terms of 2/10, 1/30 The cost of the hems sold is $5.300 Jepson uses the periodic inventory system and the gross method of accounting for purchases. The journal entry that Jepson will make on September 12 s Multiple Choice Account Title Purchases Debit 8,000 Credit Accounts Receivable 8,000 Account Title Debit Credit Merchandise inventory Accounts payable Account Title Accounts payable Debit Credit 5,100 Merchandise inventory 100 Account Title Debit Credit Purchases 4,000 Accounts payable ,000 Account Title Debit Credit Purchases 5,100 Accounts Receivable 5,300