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Joumalize the following transactions for the seller, Long Company, using the gross method to account for sales discounts. Assume a perpetual inventory system. Make sure

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Joumalize the following transactions for the seller, Long Company, using the gross method to account for sales discounts. Assume a perpetual inventory system. Make sure to enter the day for each separate transaction. May 1 Sold goods costing $9,000 to Martin Company on account, $15,000, terms 3/10,n/30. The goods are sold FOB shipping point, freight prepaid by selier, $500. May 7 Martin Company returned damaged merchandise previously purchased on account, $3,700. May 12 Received the amount due from Martin Company. Note: The entry to record the shipping payment to the delivery company is not required in this

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