Chapter 6 Homework #2 eBook Print Item Sales-Related and Purchase-Related Transactions Using Perpetual Inventory System The following were selected from among the transactions completed by Harrison Company during November of the current year: Nov. 3. Purchased merchandise on account from Moonlight Co., list price $83,000, trade discount 25%, terms FOB destination, 2/10, n/30. 4. Sold merchandise for cash, $38,820. The cost of the merchandise sold was $22,610. 5. Purchased merchandise on account from Papoose Creek Co., $48,800, terms FOB shipping point, 2/10, n/30, with prepaid freight of $750 added to the invoice. 6. Returned $12,000 ($16,000 list price less trade discount of 25%) of merchandise purchased on November 3 from Moonlight Co. 8. Sold merchandise on account to Quinn Co., $14,540 with terms n/15. The cost of the merchandise sold was $10,300. 13. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. 14. Sold merchandise on VISA, $257,240. The cost of the merchandise sold was $128,800. 15. Paid Papoose Creek Co. on account for purchase of November 5. 23. Received cash on account from sale of November 8 to Quinn Co. 24. Sold merchandise on account to Rabel Co., $52,300, terms 1/10, n/30. The cost of the merchandise sold was $33,000. 28. Paid VISA service fee of $3,880. 30. Paid Quinn Co. a cash refund of $1,400 for damaged merchandise from sale of November 8. Quinn Co. kept the merchandise. Required: Journalize the transactions. If an amount box does not require an entry, leave it blank. Nov. 3 Merchandise Inventory Accounts Payable-Moonlight Co. Nov. 4-sale Cash Sales Nov. 4-sale Cash Sales Nov. 4-cost Cost of Merchandise Sold Merchandise Inventory Nov. 5 Nov. 6 Merchandise Inventory Accounts Payable-Papoose Creek Co. Accounts Payable-Moonlight Co. Merchandise Inventory > Nov. 8-sale Accounts Receivable-Quinn Co. Sales Nov. 8-cost Cost of Merchandise Sold Merchandise Inventory Nov. 13 Accounts Payable-Moonlight Co. Cash Nov. 14-sale Cash Sales Nov 14-cost Cost of Merchandise Sold Chapter 6 Homework #2 Nov. 14-cost Cost of Merchandise Sold Merchandise Inventory Nov. 15 eBook Accounts Payable-Papoose Creek Co. Cash 88 38 Print Item Nov. 23 Cash Accounts Receivable-Quinn Co. Nov. 24-sale Accounts Receivable-Rabel Co. Sales Nov. 24-cost Cost of Merchandise Sold Merchandise Inventory Nov. 28 Credit Card Expense Cash Nov. 30 Customer Refunds Payable Cash