Grant's Hardware Bought $7,500 of Merchandise,terms 1/10,n/30

Multiple Choice

Grant's Hardware bought $7,500 of merchandise,terms 1/10,n/30.The journal entry to record the transaction under the net approach method would be to:

A) debit Purchases $7,425;credit Accounts Payable $7,425.
B) debit Purchases $7,425;credit Vouchers Payable $7,425.
C) debit Purchases $7,500;credit Vouchers Payable $7,425;credit Discounts Lost $75.
D) debit Purchases $7,500;credit Cash $7,500.