QUESTION 18 2 points Your company purchases $10.000 of inventory 2/10, n/30. At the time of purchase, your firm debits Inventory for $10,000 and credits Account Payable for $10,000. If your company pays for the merchandise before the discount period lapses, you will O debit Purchase Discounts Lost for $200 credit Inventory for $200 credit Purchase Discounts for $200 Odebit Account Payable for $9.800 O debit Purchase Discounts for $200 QUESTION 19 2 points ABC Company purchased $10,000 of merchandise on account from XYZ Company terms are 3/10, n/30, FOB destination. If ABC recorded the purchase at gross and the invoice is not paid within the discount period, which of the following statements is true? ABC would need to record the $300 lost discount as a debit to the Discount Lost account ABC would record the payment with a debit to Account Payable for $10,000 and a credit to cash for $10,000 if they use the periodic method (the entry would be different if they use the perpetual method) ABC would record the payment with a debit to Account Payable for $10,000 and a credit to cash for $10,000 regardless of the inventory method they use (perpetual of periodic) ABC would record the payment with a debit to Account Payable for $10,000 and a credit to cash for $10,000 if they use the perpetual method (the entry would be different if they use the periodic method) ABC would need to record the $300 lost discount as a credit to the Discount Lost account