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multiple choice, choose one. On September 12, Vander Company sold merchandise in the amount of $9,200 to Jepson Company, with credit terms of 3/10, 1/30.

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On September 12, Vander Company sold merchandise in the amount of $9,200 to Jepson Company, with credit terms of 3/10, 1/30. The cost of the items sold is $5,700. Jepson uses the periodic inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Jepson makes on September 18 is: Multiple Choice Purchases Cash 9.200l Accounts payable Merchandise inventory Cash 276 8,924 9,200 Accounts payable Purchases discounts Canh 276 8.924 8,924 0 Purchases Cash 8,924 9,200 0 Accounts payable Merchandise inventory Cash 276 8,924 0 9,200 Accounts payable Purchases discounts Cash 276 8,924 0 Cash Accounts receivable 8,924 8,924 Cash Purchases discounts Accounts payable 8,924 276 9,200

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