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On September 12, Vander Company sold merchandise in the amount of $8,600 to Jepson Company, with credit terms of 2/10,n/30. The cost of the items

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On September 12, Vander Company sold merchandise in the amount of $8,600 to Jepson Company, with credit terms of 2/10,n/30. The cost of the items sold is $5,400. Jepson uses the periodic inventory system and the gross method of accounting for purchases. The joumal entry that Jepson will make on September 12 is: Multiple Choice \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Purchases & 8,600 & \\ \hline Accounts payable & & 8,600 \\ \hline \end{tabular} 6 \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Merchandise inventory & 8,600 & \\ \hline Accounts payable & & 8,600 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Accounts payable & 5,400 & \\ \hline Merchandise inventory & & 5,400 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Purchases & 5,400 & \\ \hline Accounts Receivable & & 5,400 \\ \hline \end{tabular} \begin{tabular}{|c|c|r|} \hline Account Title & Debit & Credit \\ \hline Purchases & 8,600 & \\ \hline Accounts Receivable & & 8,600 \\ \hline \end{tabular} On September 12, Vander Company sold merchandise in the amount of $8,600 to Jepson Company, with credit terms of 2/10,n/30. The cost of the items sold is $5,400. Jepson uses the periodic inventory system and the gross method of accounting for purchases. The joumal entry that Jepson will make on September 12 is: Multiple Choice \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Purchases & 8,600 & \\ \hline Accounts payable & & 8,600 \\ \hline \end{tabular} 6 \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Merchandise inventory & 8,600 & \\ \hline Accounts payable & & 8,600 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Accounts payable & 5,400 & \\ \hline Merchandise inventory & & 5,400 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Purchases & 5,400 & \\ \hline Accounts Receivable & & 5,400 \\ \hline \end{tabular} \begin{tabular}{|c|c|r|} \hline Account Title & Debit & Credit \\ \hline Purchases & 8,600 & \\ \hline Accounts Receivable & & 8,600 \\ \hline \end{tabular}

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