Journalize the following transaction for both Scycamore Company (seller) and Bonita Co. (Buyer) under perpetual system.

Transactions

- Nov. 2. KAI Co. sold merchandise on account to BON Co., $16,000, terms FOB destination, 2/10, n/30. The cost of the merchandise sold was $10,000.

- Nov. 5. KAI paid freight of $375.

- Nov. 8. KAI Co. sold merchandise on account to BON Co., $24,750, terms FOB shipping point, 1/15, n/eom. The cost of the merchandise sold was $14,850.

- Nov. 8. BON Co. paid freight of $640 for delivery of merchandise sold to BON Co. on Nov. 8

- Nov. 12. BON Co. returned $5,750 of merchandise purchased on account on Nov. 8 from KAI Co. the cost of the merchandise returned was $3,000.

- Nov. 12. BON Co. paid KAI Co. for purchase of Nov. 2, less discount.

- Nov. 23. BON Co. paid KAI Co. for purchase of Nov. 8, less discount and less return of Nov. 12.

Adjusting entries

- Nov. 30. BON has depreciation of Equipment for November is $5000.

- Nov. 30. KAI has prepaid three months rent on a lease rental contract $600 expire