Jacob Co. sells merchandise on credit to Isaiah Co. for $10,200. The invoice is dated on May 1 with terms of 1/15, net 45. What is the amount of the discount and up to what date must the invoice be paid in order for the buyer to take advantage of the discount? Oa. $204, May 15 Ob. $102, May 16 Oc. $102, May 15 Od. $204, May 16 Cumberland Co. sells $1,064 of inventory to Hancock Co. for cash. Cumberland paid $620 for the merchandise. Under a perpetual inventory system, which of the following journal entry(les) would be recorded? Oa. debit Accounts Receivable, $1,064; credit Sales, $1,064; and debit Cost of Merchandise Sold, $620; credit Merchandise Inventory, $620 Ob. debit Cash, $1,064; credit Merchandise Inventory, $620 Oc. debit Cash, $620; credit Sales, $620 Od. debit Cash, $1,064; credit Sales, $1,064; and debit Cost of Merchandise Sold, $620; credit Merchandise Inventory, $620