Journalize the following transactions for Griffin 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.
1) October 1: Sold goods costing $3,600 to Barnes Company for cash, $6,000.
2) October 7: Barnes Company returned undamaged merchandise, purchased on October 1, for a cash refund, $670.
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