Ray Company's accounting records show the following at the year ending on December 31, 2016: Purchase Discounts $ 16,500 Freight - In 22,100 Purchases 413,000 Beginning Inventory 47,000 Ending Inventory 57,600 15,600 Purchase Returns Using the periodic system, the cost of goods purchased is Select one: O a. $413,600. 0 b. $423,000. O c. $403,000. d. $380,900. On March 9, Nlijah Company sells goods on credit to Siley Company for $7,000, terms 1/10, n/60. Nlijah receives payment on March 18. The entry by Nlijah on March 18 is: Select one: 0 a. Cash....... Sales Discounts... Accounts Receivable...... O b. Cash............ Sales Discounts... Accounts Receivable... 7,000 70 6,930 6,930 70 7,000 OC. Cash......... 7,000 Accounts Receivable.. 7,000 O d. Cash........... 7,070 Sales Discounts....... 70 Accounts Receivable....... 7,000