Journalize the following transactions for the buyer, Henderson Company, using the gross method to account...
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Accounting
Journalize the following transactions for the buyer, Henderson Company, using the gross method to account for purchase discounts. Assume a perpetual inventory system.
May 8 Purchased merchandise from Jackson Company on account, $14,000, terms 5/10, n/30. The goods are shipped FOB shipping point, freight prepaid by seller, $380
May 14 Returned to Jackson Company merchandise previously purchased on account, $1,800
May 18 Paid the amount due to Jackson Company
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