Sales-related and purchase-related transactions using perpetual inventory system Instructions Chart of Accounts Journal Instructions The following were selected from among the transactions completed by Babcock Company during November of the current year Nov. 3 Purchased merchandis e on account from Moonlight Co,list price $93,000, tad scount 30%, terms FOR destination, 2/10, n/30 4 Sold merchandise for cash, $35,370. The cost of the.goods sold was $23,670. 5 Purchased merchandise on account from Papoose Creek Co., $44,400, terms EQB shiping.ont 2/10, n/30, with prepaid freight of $810 added to the invoice Returned S 13.300 ($19,000 list price less trade discount of 30%) or merchandise purchased on November 3 from Moonlight Co 8 Sold merchandise on account to Quinn Co, $17,080 with terms n/15. The cost of the goods sold was $10,010 13 Paid Moonlight Co on account for purchase of November 3, less return of November 6 14 Sold merchandise on VISA, $246,980. The cost of the goods sold was $152,530 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., $52,400, terms 1/10, n/30. The cost of the goods sold was 31,410