On June 3,Win-Tel Company Sold Merchandize Worth $800 on Credit,terms $\begin{array}{lcc}\text { Accounts Receivable } & 784 & \\\text { Sales Discounts } & 16 & \\\quad \text { Cash } & & 800\end{array}$

Multiple Choice

On June 3,Win-Tel Company sold merchandize worth $800 on credit,terms 2/10,n/30.The merchandize sold had cost $550.The customer paid the amount on June 10. What is the required journal entry to record the payment received under the periodic inventory system?

A)
$\begin{array}{lcc}\text { Accounts Receivable } & 784 & \\\text { Sales Discounts } & 16 & \\\quad \text { Cash } & & 800\end{array}$
B)
$\begin{array}{lr}\text { Accounts Receivable }&800\\\text { Sales Discounts } && 16 \\\text { Cash } && 784\end{array}$
C)
$\begin{array}{lcc}\text { Cash } & 784 & \\\text { Sales Discounts } & 16 & \\\quad \text { Accounts Receivable } & & 800\end{array}$
D)
$\begin{array}{lcl}\text { Cash } & 800 & \\\text { Sales Discounts } & 16 & \\\quad \text { Accounts Receivable } & & 816\end{array}$