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Create and journalize the transactions for watson company

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Question 1: Journalize the transactions for Watson Company using the gross method of accounting for purchase discounts. Assume a perpetual inventory system.

Point 1: June5Purchased goods from Coleman Company on account, $9,900, terms 4/10, n/30.

Point 2: June11Returned merchandise to Coleman Company that was previously purchased on account, $2,475.

Point 3: June15Paid the amount due to Coleman Company.

Reference no: EM132473774

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