A Company That Uses the Perpetual Inventory System Purchases Inventory

Multiple Choice

A company that uses the perpetual inventory system purchases inventory for $61,000 on account,with terms of 3/10,n/30.Which of the following is the journal entry to record the payment made within 10 days?

A) a debit to Accounts Payable for $61,000,a credit to Cash for $59,170,and a debit to Merchandise Inventory for $1,830
B) a debit to Accounts Payable for $61,000,a credit to Merchandise Inventory for $1,830,and a credit to Cash for $59,170
C) a debit to Merchandise Inventory for $1,830,a debit to Accounts Payable for $61,000,and a credit to Cash for $62,830
D) a debit to Accounts Payable for $59,170,a debit to Merchandise Inventory for $1,830,and a credit to Cash for $61,000