XYZ Company sells 31.000 merchandise to a customer on account with terms 2/10, net 30. The journal entry that Xyz would record at the receipt of payment if the customer pays within the discount period is 1. Debit Cash 3980, debit sales discounts for $20 and credit Accounts receivable for $1.000 2. Debit Cash 1980, credit accounts receivable $980 3. Debit Cash, credit Accounts Receivable $1,000 4. Debit Cash $1,000, credit sales discounts for $20 and Accounts receivable for $1,000 S Debit Accounts Receivable, credit sales revenue 5980