Buyer's retail entries: Problem type 2 05 Journalize the following transactions for the buyer, Davis Company, using the net method to account for purchase discounts. Assume a perpetual inventory system. October 8 Purchased goods from Goldmark Company on account, $14,800, terms 4/10, n/30. October 14 Returned defective merchandise to Goldmark Company that was previously purchased on account, $3,700. October 18 Paid the amount due to Goldmark Company. Date Account Title Debit Credit