On July 1,Darin Company Sold Inventory Costing $4,500 to Dee

Multiple Choice

On July 1,Darin Company sold inventory costing $4,500 to Dee Company for $6,000,terms 2/10,n/30.Both companies use the perpetual inventory system.Dee Company pays the invoice on July 8 and takes the appropriate discount.What journal entry will be recorded by Dee Company on July 8?

A) Debit Accounts Payable and credit Cash for $6,000
B) Debit Accounts Payable for $5,880, credit Inventory for $120, and credit Cash for $6,000
C) Debit Accounts Payable for $6,000, credit Cash for $5,880, and credit Inventory for $120
D) Debit Cost of Goods Sold and credit Cash for $4,500