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Journalize Peterson Companys transactions on May

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Reference no: EM132539342

Question - Peterson Company uses the gross method to account for purchase discounts and the periodic inventory system.

May 8 Purchased goods from Davis Company on account, $15,000, terms 5/10, n/30.

May 14 Returned merchandise to Davis Company that was previously purchased on account, $1,500.

May 15 Paid the amount due to Davis Company.

Required - Journalize Peterson Company's transactions on May 8, May 14, and May 15.

Reference no: EM132539342

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