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Journalize transaction for evans company using gross method

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Question 1: Journalize the transactions for Evans Company using the gross method of accounting for sales discounts. Assume a perpetual inventory system. Also, assume a constant gross profit ratio for all items sold. Make sure to enter the day for each separate transaction.

Point 1: April9 Sold goods costing $9,000 to Brooks Company on account, $15,000, terms 4/10, n/30.

Point 2: April15 Brooks Company was granted an allowance of $2,700 for returned merchandise that was previously purchased on account. The returned goods are in perfect condition.

Point 3: April20 Received the amount due from Brooks Company.

Reference no: EM132473879

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