Ramos Company receives a payment on account from Martines Industries. Based on the original sale of $12,000 using the periodic Inventory approach, Ramos honors the 3% cash discount and records the payment. Which of the following is the correct entry for Ramos to record? 11,640 360 12.000 12,000 7.540 160 # Cash Sales Discounts Inventory b. Accounts Receivable Cash Purchase Discounts Cash Sales Discounts Accounts Receivable d. Cash Purchase Discounts Accounts Payable 11,640 360 12,000 11.640 360 12,000