Journalize the following transactions for the buyer, Thompson Company, using the gross method to account for purchase discounts. Assume a perpetual inventory system January 10 Purchased merchandise from Diaz Company on account, $12,000, terms 4/10, January 16 Returned to Diaz Company merchandise previously purchased on account, January 21 Paid the amount due to Diaz Company. n/30. The goods are shipped FOB shipping point, freight prepaid by seller, $440. $2,600. Date Account Title Debit Credit Next >>