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 goods 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 merchandise with an invoice amount of $13,500 ($18,000 list price less trade discount of 25 ) 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 goods 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 goods 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 goods 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 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 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 Purchases 511 Purchases Returns and Allowances 512 Purchases Discounts 513 Freight In 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 Journalize the entries to record the transactions of Babcock Company for November using the periodic inventory system Refer to the Chart of Accounts for exact wording of account titles

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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

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 goods 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 merchandise with an invoice amount of $13,500 ($18,000 list price less trade discount of 25%) 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 goods 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 goods 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 goods 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.

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
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	Purchases
511	Purchases Returns and Allowances
512	Purchases Discounts
513	Freight In
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

Journalize the entries to record the transactions of Babcock Company for November using the periodic inventory system. Refer to the Chart of Accounts for exact wording of account titles.