Journalize the following transactions for Davis 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. March 5 Sold goods costing $3,240 to Thomas Company on account, $5,400, terms 4/10, 1/30. March 11 Thomas Company was granted an allowance of $1,350 for returned merchandise that was previously purchased on account. The returned goods are in perfect condition March 16 Received the amount due from Thomas Company. Date Account Title Debit Credit