LAO Saved Help Save & Eat 40 A company purchased $1,800 of merchandise on July 5 with terms 2/0,6/30 on July 7, it returned $200 worth of merchandise on July 28 it paid the full amount due. Assuming the company uses a perpetua inventory system, and records purchases using the gross method, the correct journal entry to record the merchandise return on July 7 is 00:4R07 Multiple Choice Debit Accounts Payable $200 credit Merchandise Inventory 5200 Debit Merchandise Inventory $200: credit Sales Returns 5200 Debit Merchandise Inventory $1600, credit Cash $1500 Multiple Choice Debit Accounts Payable $200, credit Merchandise Inventory $200. -42 Debit Merchandise Inventory $200, credit Sales Returns $200. Debit Merchandise Inventory $1,600; credit Cash $1.600. Debit Accounts Payable $1,800; credit Purchase Returns $200: credit Merchandise Inventory $1,600. O Debit Merchandise Inventory $200, credit Accounts Payable $200. rol an of 40 Next