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 $94,000, trade discount 25%, terms FOB destination, 2/10, n/30. 4 Sold merchandise for cash, $37,230. The cost of the goods sold was $22.500. 5 6 8 13 Purchased merchandise on account from Papoose Creek Co., $48,450, terms FOB shipping point. 2/10, n/30, with prepaid freight of $800 added to the invoice.. Returned $15,000 ($20,000 list price less trade discount of 25%) of merchandise purchased on November 3 from Moonlight Co. Sold merchandise on account to Quinn Co., $15,810 with terms n/15. The cost of the goods sold was $10,020. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. 14 Sold merchandise on VISA, $239,690. The cost of the goods sold was $129,230. 15 Paid Papoose Creek Co. on account for purchase of November 5. 23 24 28 30 Received cash on account from sale of November 8 to Quinn Co. Sold merchandise on account to Rabel Co., $54,200, terms 1/10, n/30. The cost of the goods sold was $33,490. Paid VISA service fee of $3,220. Paid Quinn Co. a cash refund of $6,330 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,580. Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. 2 A " 10 12 11 DATE DESCRIPTION PAGE 10 ACCOUNTING EQUATION JOURNAL POST REF DEBIT CREDIT ASSETS LIABLITIES EQUITY