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.

As a result of a labeling mistake at the chemical factory, a farmer accidentally sprays weedkiller rather than fertilizer on half her land. as a result, she loses half of her productive farmland. if the property of diminishing returns applies to all factors of production, she should expect to seea. a decrease in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. b. an increase in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. c. an increase in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor. d. a decrease in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor.