Problem 2 Lima Corporation (the Company) purchased $10,000 of merchandise inventory from Johnson and Johnson on credit. The related invoice for the purchase was dated 1.1.22. On January 2, 2022, the invoice was paid, and the accountant properly recorded the following journal entry when the payment was made. Accounts payable Inventory Cash Required Debit ge 3 of 6 10,000 Credit 300 9,700 H Based solely on the information given, select the best answer from the choices given below. A. The terms of the sale were 2/10 N 60 and the Company's cost of inventory was $8,000. B. The terms of the sale were 3/10 N 30 and the Company's cost of the inventory was $10,000. C. The terms of the sale were 3/10 N 30 and the Company's cost of the inventory was $9,700. D. There is not enough information given to answer this question.

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