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q Marigold Industries purchased $18,000 of merchandise on February 1, 2025, subject to a trade discount of 5% and with credit terms of 2/15, n/60.
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Marigold Industries purchased $18,000 of merchandise on February 1, 2025, subject to a trade discount of 5% and with credit terms of 2/15, n/60. It returned $6,000 (gross price before trade or cash discount) on February 4. The invoice was paid on February 13. (a) Your answer is partially correct. Assuming that Marigold uses the perpetual method for recording merchandise transactions, record the purchase, return, and payment using the gross method. (Ifno entry is required, select "No entry" for the accounttitlesand enterOfor the amounts. Round answers to O decimal places, e.g. 6,578. Credit account titles are automatically indented when amount is entered. DO not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)
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