Use the following information to answer the next 11 questions, SELECT ALL ANSWERS THAT APPLY On May 1, Sam Company sold $5,000 ofinventory to Bob Company. The sale was made on account and Sam granted Bob credit terms of 2/10, n/30. The inventory cost Sam Company $3,000. On May 3, Bob returned $1,000 of the inventory to Sam. (The inventory retuned by Bob cost Sam $600.) On May 9, Bob paid Sam in full for the amount due 8. Whatjournal entry will Sam record on May 3 if the perpetu al inventory system is used? a. debit Merchandise Inventory, $600; credit Cost ofGoods Sold, $600 b. debit Sales, $1,000; credit Accounts Receivable, $1,00i0 c. debit Sales, $1,000; credit Cash, $1,000 d. debit Sales Returns and Allowances, $1,000; credit Accounts Receivable, $1,000 e. debit Sales Retums and Allowances, $1,000; credit Cash, $1,000. 9. Whatjournal entry will Bob record on May 9if the periodic inventory system is used? f. g. h. ?. j. debit Accounts Payable, $4,000, credit Cash, $4,000 debit Accounts Payable, S5,000; credit Cash, $5,000 debit Accounts Payable, $4,000; credit Merchandise Inventory, $80; credit Cash, $3,920 debit Accounts Payable, $4,000, credit Purchase Discounts: $80, credit Cash, $3,920 debit Accounts Payable, $4,000; credit Purchase Retums and Allowances, $80; credit Cash, $3,920 10.What journal entry will Bob record on May9ifthe perpetual inventory systemis used? debit Accounts Payable, $4,000, credit Cash, $4,000. debit Accounts Payable, S5,000; credit Cash, $5,000. debit Accounts Payable, $4,000; credit Merchandise Inventory, $80; credit Cash, $3,920 debit Accounts Payable, $4,000; credit Purchase Discounts; $80, credit Cash, S3,920 debit Accounts Payable, $4,000; credit Purchase Retums and Allowances, $80; credit Cash, $3,920 a. b. c. d. e. 11 What journal entry will Sam record on May9? f. g. h. debit Cash, $4,000; credit Accounts Receivable, $4,000 debit Cash, $5,000; credit Accounts Receivable, $5,000 debit Cash, $3,920, debit Sales, $80; credit Accounts Receivable, $4,000 debit Cash. $3.920. debit Sales Discounts, $80. credit Accounts Receivable. $4,000 debit Cash, $3,920; debit Sales Returns and Allowances, $80; credit Accounts Receivable, $4,000. j