TB MC Qu. 04-111 (Static) On May 1, Anderson Company purchased... 17 On May 1 Anderson Company purchased merchandise in the amount of $5800 from Shilling, with credit term of 2/10,n/30 Anderson uses the perpetual inventory system and the gross method. The journal entry that Anderson will make on May tis. Multiple Choice O Credit Account Title Sales Accounts Receivable Debit 5,800 5,800 Credit Account Title Merchandise Inventory Accounts Payable Debit 5,800 5,800 Credit Account Title Accounts Payable Sales Debit 5,800 5,800 theducation.com/ext/map/index.html?_con=congtexternal browser O&launch Url=https%253A%252F%252Fnewconnectmhedue Saved Accounts Payable 5,800 Credit Account Title Accounts Payable Sales Debit 5,800 5,800 Credit Account Title Merchandise Inventory Cash Debit 5,800 5,800 O O Credit Account Title Purchases Accounts Payable Debit 5,800 5,800