Renolta traders purchased goods on 7th April, 2018 for 78,000 on credit under the payment terms 3/10, n/30 and paid cash on 15th April, 2018. How would you record this in the books of buyer under perpetual inventory system?

a.

Cash 78,000 Dr / Account payable 78,000 Cr

b.

Account payable 78,000 Dr / Cash 78,000 Cr

c.

Account payable 78,000 Dr / Merchandise inventory 2,340 Cr / Cash 75,660 Cr

d.

Cash 75,660 Dr / Merchandise inventory 2,340 Dr /Account payable 78,000 Cr