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. Babcock uses the ne Nov. 3 4 5 6 8 Purchased merchandise on account from Moonlight Co., list price $80.000, trade discount 30%, terms FOB destination, 2/10,n/30. Sold merchandise for cash, 538 210. The cost of the goods sold was $20,810. Purchased merchandise on account from Papoose Creek Co. $51,550, terms FOB shipping point, 2/10, 1/30, with prepaid freight of 5730 added to the invoice Returned $14,000 ($20,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. Sold merchandise on account to Quinn Co. $15.010 with terms 1/15. The cost of the goods sold was $10.190 Paid Moonlight Co. on account for purchase of November 3, less return of November 8. Sold merchandise on VISA 5231.570. The cost of the goods sold was 5142,000. Paid Papoose Creek Co. on account for purchase of November 5. Received cash on account from sale of November 8 to Quinn Co 24 Sold merchandise on account to Rabel CS54,800 terms 1/10,n30. The cost of the goods sold was $33.850 Paid VISA service fee of 53.580. Paid Quinn Co a cash refund of $8.420 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3.140 13 14 15 22 28 30 Check My Work Show Me How Sales-related and purchase-related transactions using perpetual inventory system Instructions Chart of Accounts Journal Instructions Journal TH DATE DESCRIPTION POST REF DET CREDIT 1 3