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 $81,000, trade discount 20%, terms FOB destination, 2/10, n/30. 4. Sold merchandise for cash, $37,770. The cost of the goods sold was $24,090. 5. Purchased merchandise on account from Papoose Creek Co., $46,100, terms FOB shipping point, 2/10, n/30, with prepaid freight of $880 added to the invoice. 6. Returned $13,600 ($17,000 list price less trade discount of 20%) of merchandise purchased on November 3 from Moonlight Co. 8. Sold merchandise on account to Quinn Co., $17,050 with terms n/15. The cost of the merchandise sold was $8,670. 13. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. 14. Sold merchandise on VISA, $226,940. The cost of the goods sold was $147,550. 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., $55,000, terms 1/10, n/30. The cost of the goods sold was $32,810. 28. Paid VISA service fee of $3,690. 30. Paid Quinn Co. a cash refund of $5,790 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,610. Required: Journalize the transactions. Nov. 3 Nov. 4-sale Nov. 4-cost Nov. 5 Nov. 6 Nov. 8 Nov. 8 Nov. 13 Nov. 14-sale 4 4 0 0 0 0 Nov. 14-cost Nov. 15 Nov. 23 Nov. 24-sale Nov. 24-cost Nov. 28 Nov. 30-refund Nov. 30-cost 4