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Business, 20.03.2020 03:01 littlecedrick2908

On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Ryan uses the periodic inventory system and the net method of accounting for sales. The journal entry or entries that Ryan will make on September 12 is (are):a. 5,684 Purchases

Cash 5,684

b. 4,000 Accounts payable

Merchandise inventory 80

Cash 3,920

c. 5,800 Accounts payable

Purchases discounts 116

Cash 5,684

d. 5,684 Accounts payable

Cash 5,684

e. 5,684 Cash

116 Purchases discounts

Accounts payable 5,800

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