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 $79,000, trade discount 25%, terms FOB destination, 2/10, n/30. 4. Sold merchandise for cash, $34,760. The cost of the merchandise sold was $20,360. 5. Purchased merchandise on account from Papoose Creek Co., $50,550, terms FOB shipping point, 2/10, n/30, with prepaid freight of $780 added to the invoi 6. Returned $13,500($18,000 list price less trade discount of 25% ) of merchandise purchased on November 3 from Moonlight Co. 8. Sold merchandise on account to Quinn Co., $16,310 with terms n/15. The cost of the merchandise sold was $9,870. 13. Paid Moonlight Co. on account for purchase of November 3, less return of November 6 . 14. Sold merchandise on VISA, $234,950. The cost of the merchandise sold was $146,750. 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., $53,700, terms 1/10,n/30. The cost of the merchandise sold was $36,900. 28. Paid VISA service fee of $3,670. 30. Paid Quinn Co. a cash refund of $1,480 for damaged merchandise from sale of November 8 . Quinn Co. kept the merchandise. ire an entry, leave it blank. Nov. 13 Nov. 14-sale Nov. 14-cost Nov. 15 Nov. 23 Nov. 24-sale Nov. 24-cost Nov. 28 Nov. 30