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could anyone help me with this? following were selected from among the transactions completed by Baboock Company during November of the current year: Nov. 3
could anyone help me with this?
following were selected from among the transactions completed by Baboock Company during November of the current year: Nov. 3 Purchased merchandise on account from Moonlight Co. list price 590.000 , trade discount 25\%, terms FOB destination, 2/10,n/30. 4. Sold merchandise for cash, $30,900. The cost of the ooods soid was $20,480. 5 Purchased merchandise on aocount from Papoose Creek Co, 560,700, terms FOB shieping point, 2/10,n/30, with prepaid freight of $750 added to the invoice. 6. Returned merchandise with an invoice amount of $12,760 (\$17,000 list price less trade discount of 26\%) purchased on November 3 from Moonlight Co 8 Sold merchandise on account to Quinn Co. 514,550 with terms n/15. The cost of the goods sold was $8,510. 13 Paid Moonlight Co. on account for purchase of November 3, less return of Novernber . 14 Sold merchandise with a list price of $230.110 to customers who used VISA and who redeemed $7.600 of pointof- sale coupons. The cost of the goods sold was $137,270. 15 Paid Papoose Creek Co, on account for purchase of November 5. 23 Received eash on account from sale of November 8 to Quinn Co 24 Sold merchandise on account to Rabel Co. $57,100, terms n/30. The cost of the goods sold was $32,270 28 Paid VSA service fee of $3,700. 30 Paid Quinn Co. a cash refund of 55,080 for retumed merchandise from sale of November 3 . The cost of the retumed merchandise was $3,290. 30 During November, printed a coupon with each customer's sales rece pt for $2 off the customer's nedt purchase of over 515 . The coupons may be redeemed during December Of the tocal of 23,000 coupons printed, it is estimated that 55% will be redeemed. Required: 1. Joumalize the November transactions 2. Assume that as of December 31, 10,200 of the 52-0ff coupons issued duning November had been redeemed by customers Joumalte the entry for the remaining unredeemed coupons Step by Step Solution
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