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Journalize the following transactions for Moore Company using the gross method of accounting for purchase discounts. Assume a perpetual inventory system. January 2 Purchased goods
Journalize the following transactions for Moore Company using the gross method of accounting for purchase discounts. Assume a perpetual inventory system. January 2 Purchased goods from Patterson Company on account, $11,500, terms 4/10, n/30. January 8 Returned merchandise to Patterson Company that was previously purchased on account, $2,300. January 12 Paid the amount due to Patterson Company
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