Phones R Us uses a perpetual inventory system when recording its cash payments and cash receipts. In June, the business purchases $1,500 of goods on account with terms of 2/10, n/30. Select the correct entry to record the payment for these goods within the discount period.

the payment for these goods within the discount period Multiple Choice Credit Account Name Accounts payable Purchase discounts Cash Debit 1,500 30 1,470 Credit Account Name Accounts payable Cash Debit 1,500 1,500 Credit Account Name Sales discounts Accounts payable Debit 30 1,470 Cash 1,500 Account Name Accounts payable Merchandise Inventory Cash Debit 1,500 Credit 30 1,470