View previous attempt On September 12, Ryan Company sold merchandise in the amount of $8,000 to Johnson Company, with credit terms of 2/10, 1/30. The cost of the items sold is $5,100. Johnson uses the perpetual Inventory system and the net method of accounting for purchases. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Johnson makes on September 18 is: Multiple Choice o Credit Account Title Merchandise Inventory Cash Debit 7,840 7,840 Credit Debit 5,100 Account Title Accounts Payable Merchandise Inventory Cash 102 4,998 Credit Debit 8,800 Account Title Accounts Payable Merchandise Inventory Cash 160 7,840 10 of 19 ACCO Credit Title Accounts Payable Merchandise Inventory Cash Debit 5,100 102 4,998 Credit Account Title Accounts Payable Merchandise Inventory Cash Debit 8,000 160 7,840 O Credit Account Title Accounts Payable Cash Debit 7,840 7,840 Credit Account Title Cash Discounts Lost Accounts Payable Debit 7,840 160 8,000 10 of 19 Next