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Journalize the following transactions for Anderson Company using the gross method of accounting for purchase discounts. Assume a perpetual inventory system. January 9 Purchased goods
Journalize the following transactions for Anderson Company using the gross method of accounting for purchase discounts. Assume a perpetual inventory system. January 9 Purchased goods from Butler Company on account, $9,500, terms 5/10, n/30. January 15 Returned merchandise to Butler Company that was previously purchased on account, $1,140. January 19 Paid the amount due to Butler Company
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