Journalize the following transactions for the buyer, Martin Company, using the net method to account for purchase discounts. Assume a perpetual inventory system. June 2 Purchased goods from Gilbert Company on account, $5,000, terms 2/10, n/30. June 8 Returned defective merchandise to Gilbert Company that was previously purchased on account, $300. June 12 Paid the amount due to Gilbert Company. Date Account Title Debit Credit x Submit Assignment ? 0

Joumalize the following transactions for the buyer, Martin Company, using the net mechod to account for purchase discounts: Assume a perpetual inventory system. June 2 Purchased goods from Gibert Company on account, $5,000, terms 2/10,/30. June 8 Returned defective merchandise to Gilbert Company that was previously purchased on account, $300. June 12 Paid the amount due to Gilbert Company