QUESTION 7 Schneider Company uses a perpetual inventory system and the gross method of accounting for cash discounts. On February 5, Schneider purchases $1,000 of merchandise from a supplier with terms 1/15, n/45. On February 15, Schneider pays the amount owed from the purchase on February 5. Which of the following is part of the correct journal entry that Schneider will record on February 15? O A. Debit accounts payable for $990 B. Credit inventory for $10 c. Debit purchases for $1,000 D. Credit cash for $1,000 E. None of the above 4.5 QUESTION 8 Save All Answers Click Save and Submit to save and submit. Click Save All Answers to save all answers. BOM 82&