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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

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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 $79,000, trade discount 30%, terms FOB destination, 2/10, 1/30. 4. Sold merchandise for cash, 537,810. The cost of the merchandise sold was $21,360 5. Purchased merchandise on account from Papoose Creek Co., $50,100, terms FOB shipping point, 2/10, 1/30, with prepaid freight of $870 added to the invoice 6. Returned $13,300 (519,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. B. Sold merchandise on account to Quinn Co., $17,000 with terms /15. The cost of the merchandise sold was $8,820 13. Paid Moonlight Co. on account for purchase of November 3, less return of November 6, 14. Sold merchandise on VISA, $242,870. The cost of the merchandise sold was $138,520. 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., 560,800, terms 1/10, 1/30. The cost of the merchandise sold was $32,810. 28. Pald VISA service fee of $3,330 30. Paid Quinn Co a cash refund of $1,550 for damaged merchandise from sale of November 8. Quinn Co.kest the merchandise Required: Journalize the transactions. If an amount box does not require an entry, leave it blank NA Quinn Co. a cash refund of $1,550 for damaged merchandise from sa Required: Journalize the transactions. If an amount box does not require an entry, leave it blank. Nov. 3 Nov. 4-sale Nov. 4-cost Un Nov. 5 Nov. 6 Nov. 8-sale Nov. 8-cost Nov. 8-cost Nov. 13 Nov. 14-sale Nov. 14-cost Nov. 15 Nov. 23 Nov. 24-sale Nov. 24-cost Nov. 28 = Nov. 24-cost 3 Nov. 28 Nov. 30

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