Remaining Time: 53 minutes, 48 seconds. Question Completion Status: QUESTION 39 ntory system and the gross method of accounting for purchases Juniper Company uses a perpetual invent with terms 1/10, n/30. On August 11, it returned $1,500 worth of merchandise. On A purchase on August 7 is The company 0750 of correct journal entry to record the August 16, it paid the fuil amount due. The c O Debit Merchandise Inventory $9,750; credit Cash $9,750 O Debit Accounts Payable $9,750; credit Merchandise Inventory $9,750. O Debit Merchandise Inventory $9,750; credit Sales Returns $1,500; credit Cash $8,250 O Debit Merchandise Inventory $9,750; credit Accounts Payable $9,750. O Debit Accounts Payable $8,250; debit Purchase Returns $1,500; credit Merchandise Inventory $9,750