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Multiple Choice Question 166 Crane Company uses a perpetual inventory system and made a purchase...

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Multiple Choice Question 166 Crane Company uses a perpetual inventory system and made a purchase of merchandise on credit from Wildhorse Corporation on August 3, for $9400, terms 3/10, n/45. On August 10, Crane makes the appropriate payment to Wildhorse. The entry on August 10 for Crane Company is Accounts Payable 9400 Cash 9400 Accounts Payable 9118 Cash 9118 Accounts Payable 9400 Purchase Returns and Allowances 282 Cash 9118 9400 Accounts Payable Inventory 282 Cash 9118

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