Question 18 3 pts The journal entry that Pirate makes to record the payment on July 12 is: Debit Accounts Payable $3,000 credit Cash $3.000 Debit Accounts Payable $2.500, credit Cash $2.500 Debit Accounts Payable $2,500: credit Inventory $50. Credit Cash $2.450 Debit Accounts Payable $3.000. credit inventory 560, credit Cash $2.940 Question 19 3 pts Melange Company's perpetual Inventory records show a balance in the inventory account of $5,850 at December 31. A physical count of the inventory indicates that the actual on fand amount at December 31 is $3,500. The entry in Melange's accounting system would include: Credit to Cost of Goods Sold for $2.350 No adjustment to Inventory is needed. The inventory balance is correct because the perpetual inventory tracking system is being used Debit to inventory for $2350 Debit to Cost of Goods Sold for $2.350 Question 16 Use the following information to answer questions 16-18. Pirate Corporation had the following transactions during the month of July: July 5 July 7 Purchased car flags for $3,000 on account from Team Sports, terms 2/10, net 30 Returned $500 of the flags because they were defective (had a Ram on them) Paid Team Sports the balance due (within the discount period). a July 12 The journal entry that Pirate makes to record the purchase on July 5 is: O Debit Accounts Payable $3,000; credit triventory $3,000 Debit inventory $3,000 credit Accounts Payable $3,000 Debit Inventory $2,500; Credit Cash $2,500 O Debit Inventory $3,000, credit Sales Returns $500; credit Cash $2,500 12 MacBook