On January 7, XYZ Company purchased merchandise on credit for $5,000, terms 2/10, n/30. XYZ Company uses a perpetual inventory system and the gross method to record purchases. On January 10, XYZ returned $1,000 worth of the merchandise to the vendor. The journal entry to record the transaction occurring on January 10 includes a debit to accounts payable for $1,000 a credit to cash for $1,000 a credit to cost of goods sold for $1,000 None of the answers are correct. O a debit to sales returns and allowances for $1,000