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uice Drinks uses the periodic inventory system to account for its merchandise purchases. On December 1, it purchased $250 of merchandise with terms of 4/10,n/30.

uice Drinks uses the periodic inventory system to account for its merchandise purchases. On December 1, it purchased $250 of merchandise with terms of 4/10,n/30. If payment is made on December 5, demonstrate the required journal entry to record the payment by selecting all of the correct actions below.

Multiple select question.

Credit Accounts Payable $250.

Credit Cash $250.

Debit Accounts Payable $250.

Debit Purchase Discounts $10.

Credit Cash $240.

Credit Merchandise Inventory $10.

Credit Purchase Discounts $10.

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