On September 12, Vander Company sold merchandise in the amount of $7,600 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,900. Jepson uses the periodic inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Jepson makes on September 18 is:

Multiple Choice

• Purchases	7,448
  Cash		7,448

• Cash	7,448
  Accounts receivable		7,448

• Accounts payable	7,600
  Purchases discounts		152
  Cash		7,448

• Accounts payable	7,600
  Merchandise inventory		152
  Cash		7,448

• Cash	7,448
  Purchases discounts	152
  Accounts payable		7,600