Journalize the following transactions for the buyer, Reed Company, using the gross method to account for purchase discounts. Assume a perpetual inventory system. June 31 June 9 June 13 Purchased merchandise from Collins Company on account, $11,000, terms 3/10, n/30. The goods are shipped FOB shipping point, freight prepaid by seller, $430. Returned to Collins Company merchandise previously purchased on account, $1,600. Paid the amount due to Collins Company. Date Account Title Debit Credit Explanation Check