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On September 12, Ryan Company sold merchandise in the amount of $6,600 to Johnson Company, with credit terms of 2/10,n/30 The cost of the items

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On September 12, Ryan Company sold merchandise in the amount of $6,600 to Johnson Company, with credit terms of 2/10,n/30 The cost of the items sold is $4,400. Johnson uses the periodic Inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is: Multiple Choice 6,468 Purchases Accounts payable 6,468 Merchandise inventory Accounts payable 6,468 6, 468 Purchases 6,600 Accounts payable 6,600 Accounts payable Merchandise inventory 6,600 6,600 Merchandise Inventory Accounts payable 4,400 4,400

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