Avery Supplies Uses a Periodic Inventory System $$\begin{array} { | c | r | r | } \hline \text { Accounts Payable } & 9,700 & \\\hline \text { Cash } & & 9,700 \\\hline\end{array}$$

Avery Supplies uses a periodic inventory system. Avery purchased $10,000 of inventory on account. The terms were 3/10, n/30. The purchase was made on February 1. Avery paid the supplier on February 9. Which of the following journal entries properly records this payment transaction?

A) $$\begin{array} { | c | r | r | } \hline \text { Accounts Payable } & 9,700 & \\\hline \text { Cash } & & 9,700 \\\hline\end{array}$$
B) $\begin{array}{|l|r|r|}\hline \text { Accounts Payable } & 9,700 & \\\hline \text { Purchase Discounts } & 300 & \\\hline \text { Purchases } & & 10,000 \\\hline\end{array}$

C) $$\begin{array} { | l | r | r | } \hline \text { Accounts Payable } & 10,000 & \\\hline \text { Cash } & & 9,700 \\\hline \text { Purchase Discounts } & & 300 \\\hline\end{array}$$
D) $$\begin{array} { | c | r | r | } \hline \text { Accounts Payable } & 10,000 & \\\hline \text { Cash } & & 10,000 \\\hline\end{array}$$