A Company Purchased Merchandise Inventory at a Cost of $4,300 $\begin{array}{|c|c|c|}\hline \text { Merchandise Inventory } & 4,300 & \\\hline \text { Accounts Payable } & & 4,300 \\\hline\end{array}$

Multiple Choice

A company purchased merchandise inventory at a cost of $4,300 with credit terms 3/15, net 45. If the company elects to pay within the discount period, what would be the appropriate journal entry?

A) $\begin{array}{|c|c|c|}\hline \text { Merchandise Inventory } & 4,300 & \\\hline \text { Accounts Payable } & & 4,300 \\\hline\end{array}$
B) $\begin{array} { | c | c | c | } \hline \text { Accounts Payable } & 4,300 & \\\hline \text { Merchandise Inventory } & & 4,300 \\\hline\end{array}$
C) $\begin{array} { | c | c | c | } \hline \text { Purchase Discount } & 4,171 & \\\hline \text { Accounts Payable } & & 4,171 \\\hline\end{array}$
D) $\begin{array} { | c | c | c | } \hline \text { Accounts Payable } & 4,171 & \\\hline \text { Cash } & & 4,171 \\\hline\end{array}$
E) $\begin{array} { | c | r | r | } \hline \text { Accounts Payable } & 4,300 & \\\hline \text { Merchandise Inventory } & & 129 \\\hline \text { Cash } & & 4,171 \\\hline\end{array}$