Multiple Choice On February 3, Smart Company sold merchandise in the amount of $4,800 to Kennedy Company, with credit terms of 1/10, n/30. The cost of the Items sold is $3,310. Smart uses the perpetual Inventory system and the gross method. Kennedy pays the Invoice on February 8 and takes the appropriate discount. The journal entry that Smart makes on February 8 Is: Account Title Cash Accounts Receivable Debit 3,310 Credit 3,310 Account Title Debit Credit Cash Accounts Receivable 4,800 4,800 Account Title Debit Credit Cash 4,720 Sales discounts 33 Accounts Receivable 4,753 Account Title Debit Credit Cash Accounts Receivable 3,230 3,230 Account Title Debit Credit Cash 4,752 Sales discounts Accounts Receivable 48 4,800