Question 12 On March 15th, 200X an entity purchased $5,000 of merchandise on account with terms 2/10, n/30. They returned $700 of merchandise on March 18th, 2007. If the invoice is paid on March 25th, 2007, the entry to record the payment is Selected Answer: D. Debit Cash for $4,214 and Purchase Discount for 86 and Credit Accounts Payable for $4,300. Answers: A. Debit Accounts Payable for $4,300; Credit Cash for $4,300 B. Debit Cash for $4,300; Credit Accounts Payable for $4,300 C. Debit Accounts Payable for 4,300; Credit Cash for 4,214 and Purchase Discount for 86. D. Debit Cash for $4,214 and Purchase Discount for 86 and Credit Accounts Payable for $4,300