Prepare journal entries to record the following merchandising transactions of Margin Company, Inc., which uses the gross method of accounting for purchases and sales and a perpetual inventory system. Margin Company, Inc. offers all of its credit customers credit terms of 2/10, n/30. 
Definitions:
Two-factory Theory
A psychological theory that proposes that human emotions consist of two components: physical arousal and a cognitive label that specifies the emotion.
Classical Conditioning
A learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus, leading to a learned response.
Operant Conditioning
A method of learning that occurs through rewards and punishments for behavior, encouraging the subject to associate certain behaviors with consequences.
Emotional Processing Theory
A framework suggesting that emotional health is related to the manner in which an individual deals with emotional experiences, particularly traumatic ones.
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