Golden Furniture in Muscat follows periodic inventory method. The business Purchased Merchandise 100 study table at a cost of OMR 70 each under the terms of 3/20 n/60 on 1st March 2019. Golden Furniture discovers that 40 study table are office table. Therefore the business returns to the supplier for a full refund on 12th March 2019. Which of the following double entry will be correct assuming that the business paid to the supplier on 31st March 2019? a. Debit : Merchandise inventory RO 7000 Credit: Accounts payable RO 7000 b. Debit : Accounts payable RO 4200 Credit: Cash RO 4200 c. Debit : Accounts payable RO 4200 Credit: Cash RO 4074 Credit Purchase discount RO 126 d. Debit : Accounts payable RO 2800 Credit: Merchandise inventory RO 2800

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