Sales-Related and Purchase-Related Transactions Using Perpetual Inventory System The following were selected from among the transactions completed by Babcock Company during November of the current year: Nov. 3. Purchased merchandise on account from Moonlight Co., list price t89,000, trade discount 2S%, terms FOB destination. 2 n/30. 4. sold merchandise for cash, $40,590. The cost of the goods sold was $24,610 5. Purchased merchandise on account from Papoose Creek Co., $47,350, terms FOB shipping point, 2/10, n/30, with prepaid freight of $820 added to the invoice 6. Returned $14,250 ($19,000 list price less trade discount of 25%) of merchandise purchased on November 3 from Moonlight Co. 8. Sold merchandise on account to Quinn Co., 15,880 with terms n/is. The cost of the merchandise sold was S9.120. 13. Paid Moonlight Co. on account for purchase of November 3, less return of November 6 14. Sold merchandise on VISA, $248,570. The cost of the goods sold was $152,400 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., $56,100, terms 1/10, n/30. The cost of the goods sold was $33,220 28. Paid VISA service fee of $3,690. 30. Paid Quinn Co. a cash refund of $6,440 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,290