A company using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15,n/45.Defective inventory of $40,000 was returned 2 days later,and the accounts were appropriately adjusted.If the company paid the invoice 20 days later,the journal entry to record the payment would be ________.
A)$540,000 debit to Accounts Payable and $540,000 credit to Cash
B)$500,000 debit to Accounts Payable and $500,000 credit to Cash
C)$540,000 debit to Accounts Payable,$530,000 credit to Cash,and $10,000 credit to Merchandise Inventory
D)$530,000 debit to Accounts Payable,$10,000 credit to Merchandise Inventory,and $500,000 credit to Cash

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The Answer of A company using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15,n/45.Defective inventory of $40,000 was returned 2 days later,and the accounts were appropriately adjusted.If the company paid the invoice 20 days later,the journal entry to record the payment would be ________.
A)$540,000 debit to Accounts Payable and $540,000 credit to Cash
B)$500,000 debit to Accounts Payable and $500,000 credit to Cash
C)$540,000 debit to Accounts Payable,$530,000 credit to Cash,and $10,000 credit to Merchandise Inventory
D)$530,000 debit to Accounts Payable,$10,000 credit to Merchandise Inventory,and $500,000 credit to Cash

A Company Using the Perpetual Inventory System Purchased Inventory Worth