On October 1, Jerry's Lighting purchased merchandise with a list price of $9,800 with credit terms of 2/15, n/45. On October 3, Jerry's returns $1,100 of the merchandise. Assuming a periodic inventory system is used and Jerry's pays the remaining amount owed on the purchase within the discount period, Jerry's journal entry to record the payment, would include Multiple Choice a debit to Merchandise Inventory for $174. a debit to Accounts Payable for $8,700. a debit to Accounts Receivable for $8,700. a debit to Purchases Discounts for $174.