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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 $92,000, trade discount 25%, terms FOB destination, 2/10, n/30. 4. Sold merchandise for cash, $38,100. The cost of the merchandise sold was $23,000. 5. Purchased merchandise on account from Papoose Creek Co., $45,100, terms FOB shipping point, 2/10, n/30, with prepaid freight of $860 added to the invoice. 6. Retured $15,000 ($20,000 list price less trade discount of 25%) of merchandise purchased on November 3 from Moonlight Co. 8. Sold merchandise on account to Quinn Co., $16,040 with terms n/15. The cost of the merchandise sold was $10,180. 13. Paid Moonlight Co. on account for purchase of November 3, less return of November 6, 14. Sold merchandise on VISA, $220,050. The cost of the merchandise sold was $146,030. 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., $60,500, terms 1/10, n/30. The cost of the merchandise sold was $35,210. 28. Paid VISA service fee of $3,380. 30. Paid Quinn Co. a cash refund of $1,540 for damaged merchandise from sale of November 8. Quinn Co. kept the merchandise. Required: Journalize the transactions. If an amount box does not require an entry, leave it blank. Nov. 3 Required: Journalize the transactions. If an amount box does not require an entry, leave it blank. Nov. 3 Nov. 4-sale Nov. 4-cost Nov. 5 Nov. 6 Nov. 8-sale Nov. 8-cost Nov. 6 Nov. 8-sale 88 Nov. 8-cost Nov. 13 Nov. 14-sale Nov. 14-cost Nov. 15. Nov. 23 00 00 00 00 00 00 0 100 Nov. 15 Nov. 23 Nov. 24-sale Nov. 24-cost Nov. 28 Nov. 30 00 00 00

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