A company purchased $3,200 of merchandise on July 5 with terms 2/10, n/30. On July 7, It returned $900 worth of merchandise. On July 12, 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 payment on July 12 is: Multiple Choice 0 Debit Merchandise Inventory $2.300: credit Cash $2,300. 0 Debit Cash $2.300: credit Accounts Payable $2,300. O Debit Accounts Payable $2.300: credit Merchandise Inventory $46: credit Cash $2.254. 0 Debit Accounts Payable $3.200: credit Cash $3,200. 0 Debit Accounts Payable $2,300: credit Cash $2,300.