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Journalize the following transactions for Cox Company using the gross method of accounting for sales discounts. Assume a perpetual inventory system. Also, assume a constant

Journalize the following transactions for Cox Company using the gross method of accounting for sales discounts. Assume a perpetual inventory system. Also, assume a constant gross profit ratio for all items sold. Make sure to enter the day for each separate transaction. April 7 Sold goods costing $6,000 to Lopez Company on account, $10,000, terms 4/10, n/30. April 13 Lopez Company was granted an allowance of $1,700 for returned merchandise that was previously purchased on account. The returned goods are in perfect condition. April 18 Received the amount due from Lopez Company.

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