Chart of Account Journal The following were selected from among the transactions completed by Babcock Company during November of the current year Nov merchandise on account from Moonlight Co., list price $89,000, trade discount 30%, terms FOB destination, 2/10, n/30. 4 Sold merchandise for cash, $38,210. The cost of the merchandise sold was $20,810. 5 Purchased merchandise on account from Papoose Creek Co., $51,550, terms FOB shipping point, 2/10, n/30, with prepaid freight of $730 added to the invoice. Returned $14,000 ($20,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. 8 Sold merchandise on account to Quinn Co. $15,010 with terms n/15. The cost of the merchandise sold was $10,190 13 Paid Moonlight Co on account for purchase of November 3, less return of November 6