The following were selected from among the transactions completed by Babcock Company during November of the current year. Babcock uses the net method under a perpetual inventory system.

Nov.	3	Purchased merchandise on account from Moonlight Co., list price $93,000, trade discount 30%, terms FOB destination, 2/10, n/30.
	4	Sold merchandise for cash, $35,370. The cost of the goods sold was $23,670.
	5	Purchased merchandise on account from Papoose Creek Co., $44,400, terms FOB shipping point, 2/10, n/30, with prepaid freight of $810 added to the invoice.
	6	Returned $13,300 ($19,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co.
	8	Sold merchandise on account to Quinn Co., $17,080 with terms n/15. The cost of the goods sold was $10,010.
	13	Paid Moonlight Co. on account for purchase of November 3, less return of November 6.
	14	Sold merchandise on VISA, $246,980. The cost of the goods sold was $152,530.
	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., $52,400, terms 1/10, n/30. The cost of the goods sold was $31,410.
	28	Paid VISA service fee of $3,220.
	30	Paid Quinn Co. a cash refund of $6,020 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,390.

Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

1/2

2/2

CHART OF ACCOUNTS

Babcock Company

General Ledger

	ASSETS
110	Cash
121	Accounts Receivable-Quinn Co.
122	Accounts Receivable-Rabel Co.
125	Notes Receivable
130	Inventory
131	Estimated Returns Inventory
140	Office Supplies
141	Store Supplies
142	Prepaid Insurance
180	Land
192	Store Equipment
193	Accumulated Depreciation-Store Equipment
194	Office Equipment
195	Accumulated Depreciation-Office Equipment

	LIABILITIES
211	Accounts Payable-Moonlight Co.
212	Accounts Payable-Papoose Creek Co.
216	Salaries Payable
218	Sales Tax Payable
219	Customer Refunds Payable
221	Notes Payable

	EQUITY
310	Common Stock
311	Retained Earnings
312	Dividends

	REVENUE
410	Sales
610	Interest Revenue

	EXPENSES
510	Cost of Goods Sold
521	Delivery Expense
522	Advertising Expense
524	Depreciation Expense-Store Equipment
525	Depreciation Expense-Office Equipment
526	Salaries Expense
531	Rent Expense
533	Insurance Expense
534	Store Supplies Expense
535	Office Supplies Expense
536	Credit Card Expense
539	Miscellaneous Expense
710	Interest Expense

Joumal Shaded cals have feedback. PAGE 10 JOURNAL Scare: 357/426 ACCOUNTING EQUATION DESCRIPTION POST, REF. CREDIT DATE No. 1 DEBIT 65,100.00 ASSETS LIABILITIES EQUITY 1 1 Inventory 2 65,100.00 1 Harunts Payable Moonlight Nox 4 Cash 553700 t 3 4 + Sales 35370.00 5 Cost of Goods Sold 23.670.00 1 23.670.00 + 7 Inventory Now 5 Inventory Harunts Payable Paponse Creek Co 45,210,00 1 45,210.00 + 9 No 6 Accounts Payable Moonight ca 14,500.00 10 Invertory 13,300.00 + 11 1704000 1 No d' Arcounts Receivable Quinn Sales 17000.00 + 12 15 14 Cost of Goods Sold 1001000 + 10.010.00 + Inventory No 15" Arcounts Payable Moonight 15 51,200.00 + 16 50,764.00 1 12 1,05600 + Inventory No. 14 Cash 18 246,990.00 1 19 Sales 246.980.00 + 20 Cost of Goods Sald 152.530.00 + 21 Inventory 152530.00 4 22 Nox. 15' Accounts Payable-Papocse Creek Co. 45,210.00 1 25 44322.00 24 B98.00 + Inventory Nov 25 Cash 25 17,09000 1 Joumal Shaded cells have feedback PHOUSTON 9 No. 6 Acrunts Payable-Moonlight Cn. 13,500.00 + 10 15.500.00 + Inventory No. Accounts Receivable-Quinn Co. 11 17,080p f 12 Sales 17.080. DO 1 + 15 10010.00 10,010 DO + Cost of Goods Sold Inventory Nox 15' Accounts Payable-Moonightco Cash 15 51.800.00 1 - 16 50,764.00 1,056.00 1 Inventory Nox 14 Cash 18 245,98000 1 19 19 Sales 246,98000 + 20 Cast of Goods Sold 152,53000 + + 21 Inventory 15255000 + 22 Noc 15' Artunts Payable-Papo Ciel Co 45,210.00 + 25 Cash 14,372.00 14 BBB.CC + Inventory Nux 25Cash 25 17,080.00 f 26 17,080.00 1 Accounts Receivable-Quinn Co. Nox 24 Accounts Receivable-Rabel Co. 27 52,400.00 1 28 Sales 52.400.00 t 29 Cost of Goods Sold 31,41000 + 30 Cash 31 41000 + 31 Noc 28 Credit Card Expense 3,220.00 + 32 Cash 3,22000 1 35 Nux 30 Sales 6,020 00 1 34 Accounts Receivable-Rabel.co. 6,020.00 +