On August 1, Grayson Company bought goods with a list price of $4,800, terms 2/10, n/30. The firm records purchases at invoice price using the perpetual inventory system. On August 5, Grayson returned goods with a list price of $600 for credit. If Grayson paid the supplier the amount due on August 9, the appropriate entry would be:

Select one:

A.

Accounts Payable

4,200

	Inventory		84
	Cash		4,116

B.

Accounts Payable

4,800

	Inventory		96
	Cash		4,704

C.

Accounts Payable

4,116

Cash

4,116

D.

Accounts Payable

4,200

Cash

4,200