Please note that there will be a discount, as money is paid within 10 days.

On March 15, 2019, Ryan Company purchased $10,400 of merchandise on credit subject to terms of 3/10, n/30. Ryan Company records its purchases using the gross amount. Which of the following journal entries is correct when Ryan Company pays for these goods on March 20, 2019? Multiple Choice 10,400 Accounts payable Cash 10,400 10,400 Accounts payable Cash Inventory 10,088 312 Accounts payable Inventory Cash 10,088 312 10,400 10,088 Accounts payable Cash 10,088