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Journalize the following transactions for the buyer, Stewart Company: using the net method to account for purchase discounts. Assume a perpetual inventory system. July 10
Journalize the following transactions for the buyer, Stewart Company: using the net method to account for purchase discounts. Assume a perpetual inventory system. July 10 Purchased goods from Gounod Company on account, $7,600, terms 4/10, n/30. July 16 Returned defective merchandise to Gounod Company that was previously purchased on account, $1,900. July 21 Paid the amount due to Gounod Company
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