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Prepare your journal entries for the following sales-related transactions using the Gross method for recording cash discounts. #1 - June 1 You sell $10,000 of

Prepare your journal entries for the following sales-related transactions using the Gross method for recording cash discounts.

#1 - June 1 You sell $10,000 of merchandise to a customer on account, terms 3/10, n/45.

#2 - June 3 Your customer returns $1,000 of merchandise within the discount period.

#3 - June 7 Your customer makes a payment toward $4,000 of his account within the discount period.

#4 - Aug 13 Your customer pays the remaining balance due on this account after the discount period.

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