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Sales and purchase - related transactions using perpetual inventory system Instructions The following were selected from among the transactions completed by Babcock Company during November
Sales and purchaserelated transactions using perpetual inventory system
Instructions
The following were selected from among the transactions completed by Babcock Company during November of the current year:
Nov. Purchased merchandise on account from Moonlight Co list price $ trade discount terms FOB destination,
Sold merchandise for cash, $ The cost of the goods sold was $
Purchased merchandise on account from Papoose Creek Co $ terms FOB shipping point, with prepaid freight of $ added to the invoice.
Returned merchandise with an invoice amount of $ $ list price less trade discount of purchased on November from Moonlight Co
Sold merchandise on account to Quinn Co $ with terms The cost of the goods sold was $
Paid Moonlight on account for purchase of November less return of November
Sold merchandise with a list price of $ to customers who used VISA and who redeemed $ of pointof sale coupons. The cost of the goods sold was $
Paid Papoose Creek on account for purchase of November
Received cash on account from sale of November to Quinn Co
Sold merchandise on account to Rabel $ terms The cost of the goods sold was
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