Chapter Six Homework eBook Show Me How Sales-Related and Purchase-Related Transactions Using Perpetual Inventory System The following were selected from among the transactions completed by Babcock Company during November of the current year: Nov. 3. Purchased merchandise on account from Moonlight Co., list price $91,000, trade discount 20%, terms FOB destination, 2/10, n/30. 4. Sold merchandise for cash, $41,450. The cost of the goods sold was $23,760. 5. Purchased merchandise on account from Papoose Creek Co., $47,550, terms FOB shipping point, 2/10, n/30, with prepaid freight of $800 added to the invoice. 6. Returned $16,000 ($20,000 list price less trade discount of 20%) of merchandise purchased on November 3 from Moonlight Co. 8. Sold merchandise on account to Quinn Co., $14,260 with terms n/15. The cost of the merchandise sold was $9,010. 13. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. 14. Sold merchandise on VISA, $224,010. The cost of the goods sold was $132,790. 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., $58,200, terms 1/10, n/30. The cost of the goods sold was $35,760. 28. Paid VISA service fee of $3,530. 30. Paid Quinn Co. a cash refund of $6,010 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,410. Required: Journalize the transactions. Nov. 3 Nov. 4-sale Nov. 4-cost Nov. 5 Nov. 6 Nov. 8 Nov. 8 Nov. 13 0 0 0 0 0 0 Check My Work 3 more Check My Work uses remaining. Previous