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A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7,...

A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 28, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, The correct journal entry to record the purchase on July 5 is:

A) Debit Merchandise Inventory $1,600; credit Cash $1,600

B) Debit Merchandise Inventory $1,800; Credit Sales Return $200; Credit Cash $1,600

C) Debit Account Payable $1,800; Credit Merchandise Inventory $1,800

D) Debit Accounts Payable $1,800; Credit Purchase Returns $200; Credit Merchandise Inventory $1,600

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