Laird Corporation Bought $5,000 of Merchandise from Woods Corporation,terms 2/10,n/30

Multiple Choice

Laird Corporation bought $5,000 of merchandise from Woods Corporation,terms 2/10,n/30.The company uses the periodic inventory system and the voucher system.The journal entry to record the payment under the net method after the discount period would be to:

A) debit Vouchers Payable $5,000 credit Cash $5,000.
B) debit Vouchers Payable $5,000;credit Discounts Lost $100;credit Cash $4,900.
C) debit Vouchers Payable $4,900;credit Cash $4,900.
D) debit Vouchers Payable $4,900;debit Discounts Lost $100;credit Cash $5,000.