On July 1, Gaston Company purchased $1500 of inventory on account with credit terms of 2/10, net 30. Gaston Company uses the perpetual inventory system. On July 5, Gaston Company paid the amount due. What journal entry did they prepare on July

5?

debit Accounts Payable for $1500, credit inventory for $30 and credit Cash for $1470

O debit Accounts Receivable for $1500 and credit Cash for $1500

O debit Purchase Discount for $30, debit Accounts Payable for $1440 and credit Cash for $1470

O debit Accounts Paymble for $1470 and credit Cash for $1470