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Journalize the following transactions for Martinez Company
Journalize the following transactions for Martinez Company. 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.January6Sold goods costing $9,000 to Morris Company for cash, $15,000.January12Morris Company returned undamaged merchandise, purchased on January 6, for a cash refund, $760.
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