Juniper company uses a perpetual inventory system. The company purchased $9, 750 of merchandise on August 7 with terms 1/10, n/3. On August 11, it returned $1 500 worth of merchandise. On August 26, it paid the full amount due. The amount of the cash paid on Augusts 26 equals: A. $8, 167.50. B. $9, 652.50. C. $9, 750.00. D. $8, 250.00. E. $8, 152.50. Juniper Company uses a perpetual inventory system. 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 purchased on August 7 is: A. Debit Merchandise Inventory $9, 750: credit Cash $9, 750. B. Debit Accounts Payable $9, 750: credit Merchandise Inventory $9, 750. C. Debit Merchandise Inventory $9, 750: credit Sales Returns $1, 500, credit Cash $8, 250. D. Debit Merchandise Inventory $9, 750: credit Accounts Payable $9, 750. E. Debit Accounts Payable $8, 250: debit Purchase Returns $1, 500: credit Merchandise Inventory $9, 750. Juniper Company uses a perpetual inventory system. 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 26, it paid the full amount due. The correct journal entry to record the merchandise return on August 11 is: A. Debit Accounts Payable $1, 500: credit Cash $1, 500. B. Debit Accounts Payable $1, 500: credit Merchandise Inventory $1, 500. C. Debit Merchandise Inventory $1, 500: credit Sales Returns $1, 500. D. Debit Merchandise Inventory $1, 500: credit Cash $1, 500. E. Debit Accounts Payable $1, 500: credit Purchase Returns $1, 500