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 $85,000, trade discount 25%, terms FOB destination , 2/10, n/30.

4 Sold merchandise for cash, $37,680. The cost of the merchandise sold was $22,600.

5 Purchased merchandise on account from Papoose Creek Co., $47,500, terms FOB shipping point , 2/10, n/30, with prepaid freight of $810 added to the invoice .

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., $15,600 with terms n/15. The cost of the merchandise sold was $9,400.

13 Paid Moonlight Co. on account for purchase of November 3, less return of November 6.

14 Sold merchandise on VISA, $236,000. The cost of the merchandise sold was $140,000.

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., $56,900, terms 1/10, n/30. The cost of the merchandise sold was $34,000.

28 Paid VISA service fee of $3,540.

30 Paid Quinn Co. a cash refund of $6,000 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,300.

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

CHART OF ACCOUNTS

Babcock Company

General Ledger

	ASSETS
110	Cash
121	Accounts Receivable-Quinn Co.
122	Accounts Receivable-Rabel Co.
125	Notes Receivable
130	Merchandise 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
313	Income Summary