Juniper Company uses a perpetua/inventory system and the gross method of accounting for purchases. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 16, it paid the full amount due. The correct journal entry to record the purchase on August 7 is: Multiple Choice ) Debit Accounts Payable $8,250, debit Purchase Returns $1,500, credit Merchandise Inventory 59,750. Debit Merchandise Inventory $9,750, credit Accounts Payable $9,750. Debit Accounts Payable 59,750, credit Merchandise Inventory 59,750. Debit Merchandise Inventory $9,750, credit Cash $9,750. Debit Merchandise Inventory 59,750, credit Sales Returns $1,500, credit Cash $8,250