Date	Account Name	Credit	Debit
11/3	Merchandise Inventory	$63,750
	Accounts Payable		$63,750
11/4	Cash	$37,680
	Sales		$37,680
11/4	Cost of Merchandise Sold	$22,600
	Merchandise Inventory		$22,600
11/5	Merchandise Inventory	$48,310
	Accounts Payable-Papoose Creek Co		$48,310
11/6	Accounts Payable-Moonlight Co	$13,500
	Merchandise Inventory		$13,500
11/8	Accounts Receivable	$15,600
	Sales		$15,600
11/8	Cost of Merchandise Sold	$9,400
	Merchandise Inventory		$9,400
11/13	Accounts Payable-Moonlight Co	$50,250
	Cash		$49,245
	Merchandise Inventory		$1,005
11/14	Cash	$236,000
	Sales		$236,000
11/14	Cost of Merchandise Sold	$140,000
	Merchandise Inventory		$140,000
11/15	Accounts Payable-Papoose Creek Co	$48,310
	Cash		$47,360
	Merchandise Inventory		$950
11/23	Cash	$15,600
	Accounts Receivable-Quinn Co		$15,600
11/24	Accounts Receivable-Rabel Co	$56,900
	Sales		$56,900
11/24	Cost of Merchandise Sold	$34,000
	Merchandise Inventory		$34,000
11/28	Credit Card Expense	$3,540
	Cash		$3,540
11/30	Sales Returns and Allowances	$6,000
	Accounts Receivable-Quinn Co		$6,000
11/30	Merchandise Inventory	$3,300
	Cost of Merchandise Sold		$3,300

3	Purchased merchandise on account from Moonlight Co., list price $85,000, trade discount 25%, terms FOB destination, 2/10, n/30.
	4	Sold merchandise for cash, $37,680. The cost of the merchandise sold was $22,600.
	5	Purchased merchandise on account from Papoose Creek Co., $47,500, terms FOB shipping point, 2/10, n/30, with prepaid freight of $810 added to the invoice.
	6	Returned $13,500 ($18,000 list price less trade discount of 25%) of merchandise purchased on November 3 from Moonlight Co.
	8	Sold merchandise on account to Quinn Co., $15,600 with terms n/15. The cost of the merchandise sold was $9,400.
	13	Paid Moonlight Co. on account for purchase of November 3, less return of November 6.
	14	Sold merchandise on VISA, $236,000. The cost of the merchandise sold was $140,000.
	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., $56,900, terms 1/10, n/30. The cost of the merchandise sold was $34,000.
	28	Paid VISA service fee of $3,540.
	30	Paid Quinn Co. a cash refund of $6,000 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,300.

REQUIRED

Prepare a partial income statement -- Sales (Gross sales, sales returns, sales discount), (cost of goods sold, freight in and purchase discounts), gross profit.