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Journalize the following transactions for the buyer, Ross Company, using the net method to account for purchase discounts. Assume a perpetual inventory system June
Journalize the following transactions for the buyer, Ross Company, using the net method to account for purchase discounts. Assume a perpetual inventory system June 3 Purchased goods from Gounod Company on account, $7,000, terms 2/10, n/30. June 9 Returned defective merchandise to Gounod Company that was previously purchased on account, $700. June 13 Paid the amount due to Gounod Company. Date Account Title Debit Credit
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