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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 $82,000, trade discount 30%, terms FOB destination, 2/10, n/30.
4.	Sold merchandise for cash, $41,150. The cost of the merchandise sold was $20,580.
5.	Purchased merchandise on account from Papoose Creek Co., $48,700, terms FOB shipping point, 2/10, n/30, with prepaid freight of $810 added to the invoice.
6.	Returned $11,200 ($16,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co.
8.	Sold merchandise on account to Quinn Co., $14,780 with terms n/15. The cost of the merchandise sold was $10,150.
13.	Paid Moonlight Co. on account for purchase of November 3, less return of November 6.
14.	Sold merchandise on VISA, $228,700. The cost of the merchandise sold was $148,660.
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., $62,600, terms 1/10, n/30. The cost of the merchandise sold was $31,090.
28.	Paid VISA service fee of $3,460.
30.	Paid Quinn Co. a cash refund of $1,530 for damaged merchandise from sale of November 8. Quinn Co. kept the merchandise.

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