On September 12. Ryan Company sold merchandise in the amount of $7,200 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,700, 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 Merchandise inventory Accounts payable 4,700 4,700 Purchases Accounts payable 7,056 7,056 Accounts payable Merchandise inventory 7,200 7,200 Merchandise inventory Accounts payable 7,056 7,956 Purchases Accounts payable 7,200 7,200