KY Health Benefts Exchang...Suggested Skes web Slice Gsery Test 2-Spring. 2018 A company uses the perpetual inventory system and recorded the following entry 14 Accounts Payable 50 Merchandise Inventory Cash 45 2 0158 51 This entry reflects a Multaplo Cholce Payment of the account payable less a 2% cash dscount taken. Purchase of merchandise on credit Return of merchandise Sale of merchandise on cred payment ofthe account payable less a cash d count taken