Glasgow,Inc B) $$\begin{array} { | c | r | r | } \hline \text { Cash } & 14,000 & \\\hline \text { Accounts Payable } & & 14,000 \\\hline\end{array}$$

Glasgow,Inc.uses the periodic inventory system.On February 1,the corporation purchased inventory on account for $14,000.The terms were 4/10,n/30.On February 2,it returned damaged goods worth $700 to the supplier and was granted an allowance.Give the journal entry for the payment if the invoice is paid after the discount period.(Round your answers to the nearest dollar. )

A) $$\begin{array} { | l | r | r | } \hline \text { Accounts Payable } & 13,440 & \\\hline \text { Cash } & & 12,902 \\\hline \text { Purchase Discounts } & & 538 \\\hline\end{array}$$
B) $$\begin{array} { | c | r | r | } \hline \text { Cash } & 14,000 & \\\hline \text { Accounts Payable } & & 14,000 \\\hline\end{array}$$
C) $$\begin{array} { | c | r | r | } \hline \text { Accounts Payable } & 13,440 & \\\hline \text { Cash } & & 13,440 \\\hline\end{array}$$
D) $$\begin{array} { | c | r | r | } \hline \text { Cash } & 12,902 & \\\hline \text { Purchase Discounts } & 538 & \\\hline \text { Accounts Payable } & & 13,440 \\\hline\end{array}$$