Business Office Supplies Company Uses the Periodic Inventory System B) $$\begin{array} { | l | r | r | } \hline \text { Accounts Payable } & 20,000 & \\\hline \text { Cash } & & 20,000 \\\hline\end{array}$$

Business Office Supplies Company uses the periodic inventory system.On February 1,the sole proprietorship purchased inventory on account for $20,000.The terms of invoice were 5/10,n/30.The amount due was paid on February 9.Which of the following journal entries correctly records the payment in the books of Business Office Supplies?

A) $$\begin{array} { | l | r | r | } \hline \text { Accounts Payable } & 20,000 & \\\hline \text { Purchase Discounts } & & 1,000 \\\hline \text { Cash } & & 19,000 \\\hline\end{array}$$
B) $$\begin{array} { | l | r | r | } \hline \text { Accounts Payable } & 20,000 & \\\hline \text { Cash } & & 20,000 \\\hline\end{array}$$
C) $$\begin{array} { | c | r | r | } \hline \text { Accounts Payable } & 20,000 & \\\hline \text { Purchases } & & 20,000 \\\hline\end{array}$$
D) $$\begin{array} { | l | r | r | } \hline \text { Accounts Payable } & 20,000 & \\\hline \text { Merchandise Inventory } & & 1,000 \\\hline \text { Cash } & & 19,000 \\\hline\end{array}$$