On Dec. 20, X-Mart received a $100 allowance because the merchandise it purchased on account, earlier in the month, was of poor quality. Demonstrate the required journal entry on X-Mart's books for the allowance assuming the perpetual inventory method. O Debit Merchandise Inventory $100; credit Accounts Payable $100. O Debit Accounts Payable $100; credit Merchandise Inventory $100. O Debit Accounts Payable $100; credit Cash $100. O Debit Accounts Payable $100; credit Purchase Returns $100