Majesty Palms in particular are really hard to keep alive in normal house conditions. The best strategy would be to put it outside for the spring/summer and then (assuming you live in a cold climate) bring it inside only for the winter.
They really prefer the warmth, sunshine, and humidity of being outside and it will be hard to keep it happy inside a home.

I repotted it and pruned it using a home made potting mix. I put some old fish tank gravel at the bottom to help with drainage. I did not break up the roots or anything because I read in a few places that it likes being root bound. I then cut off all the ends I saw that were browned, I think there is a bunch of new growth that died off but I am going to wait and see what happens before pruning it.

Hi, welcome to gardenweb.

round brown spots in plenty various places...

Do you mean dead spots on the leaves or bumpy spots? Trimming off the dead parts is a good idea. Rarely is a plant helpless, so I doubt yours are. Would you have an interest in showing us some pics?

The thing about "likes to be root bound" is a fallacy, IMO, and in most plant-o-phile's O's. You can find more discussions about this by searching this forum.

If you meant that there are "bumpy" spots on the plant, that concerns me that the plant might be infested with the scale insect. If that is the case, I would definitely say to return the plant to the store if you can.
As I said before, Majesty palm is extremely hard to keep alive indoors even if you start with a healthy plant. Don't feel like it was your fault if this plant dies because many other people have had this plant die too.
If the plant has bugs, then I wouldn't even try to keep it alive. I'd just take it back to the store.