Journalize the following transactions for the seller, Martinez Company, using the gross method to account...
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Journalize the following transactions for the seller, Martinez Company, using the gross method to account for sales discounts. Assume a perpetual inventory system. Make sure to enter the day for each separate transaction. November Sold goods costing $ to Perez Company on account, $ terms n The goods are sold FOB shippingpoint, freight prepaid by seller, $ November Perez Company returned damaged merchandise previously purchased on account, $ November Received the amount due from Perez Company. Note: The entry to record the shipping payment to the delivery company is not required in this problem. 
Journalize the following transactions for the seller, Martinez Company, using the gross method to account for sales discounts. Assume a perpetual inventory
system. Make sure to enter the day for each separate transaction.
November Sold goods costing $ to Perez Company on account, $ terms n The goods are sold FOB shippingpoint, freight
prepaid by seller, $
November Perez Company returned damaged merchandise previously purchased on account, $
November Received the amount due from Perez Company.
Note: The entry to record the shipping payment to the delivery company is not required in this problem.
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