Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May $12,$ a merchandise purchase of $$20,400$ was made on credit, $2/10,$ n$/30.$ The journal entry to record this purchase is:

Multiple Choice

Merchandise Inventory $20,400$

Accounts Payable $20,400$

Accounts Payable $20,400$

Merchandise Inventory $20,400$

Purchases $20,400$

Accounts Payable $20,400$

Purchases $19,992$

Accounts Payable $19,992$

Merchandise Inventory $19,992$

Accounts Payable $19,992$