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 $94,000, trade discount 30%, terms FOB destination, 2/10, n/30. 4. Sold merchandise for cash, $34,430. The cost of the goods sold was $24,660. 5. Purchased merchandise on account from Papoose Creek Co., $45,850, terms FOB shipping point, 2/10, n/30, with prepaid freight of $790 add 6. Returned $14,000 ($20,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. 8. Sold merchandise on account to Quinn Co., $14,930 with terms n/15. The cost of the merchandise sold was $10,050. 13. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. 14. Sold merchandise on VISA, $223,960. The cost of the goods sold was $153,940. 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., $58,700, terms 1/10, n/30. The cost of the goods sold was $37,050. 28. Paid VISA service fee of $3,440. 30. Paid Quinn Co. a cash refund of $6,590 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,490 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 o Nov. 14-cost Nov. 15 Nov. 23 . Nov. 24-sale CHART OF ACCOUNTS Clairemont Company General Ledger REVENUE 410 Sales ASSETS 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Merchandise Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance EXPENSES 510 Cost of Merchandise Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 526 Sales Salaries Expense 180 Land 192 Store Equipment 527 Office Salaries Expense