Juniper Company uses a perpetual inventory system and the gross method of accounting for purchases. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 26, it paid the full amount due. The amount of the cash paid on August 26 equals:
A. $8,250.00.
B. $8,167.50.
C. $9,750.00.
D. $9,652.50.
E. $8,152.50.
Answer: A
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