system Journalize the following transactions for the buyer, King Company, using the gross method to account for purchase discounts. Assume a perpetual inventory August 9 Purchased merchandise from Garcia Company on account, $6,000, terms 5/10, 1/30. The goods are shipped FOB shipping point, freight prepaid by seller, $100. August 15 Retumed to Garcia Company merchandise previously purchased on account, $1,300. August 19 Paid the amount due to Garcia Company Date Account Title Debit Credit