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The following were selected from among the transactions completed by Babcock Company during November of the current year: Nov. 3 4 5 6 8 Purchased

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The following were selected from among the transactions completed by Babcock Company during November of the current year: Nov. 3 4 5 6 8 Purchased merchandise on account from Moonlight Co., list price $88,000, trade discount 20%, terms FOB destination, 2/10, 1/30. Sold merchandise for cash, $41,250. The cost of the goods sold was $22,250. Purchased merchandise on account from Papoose Creek Co., $43,700, terms FOB shipping.point, 2/10, 1/30, with prepaid freight of $840 added to the invoice. Returned $13,600 ($17,000 list price less trade discount of 20%) of merchandise purchased on November 3 from Moonlight Co. Sold merchandise on account to Quinn Co., $16,100 with terms 1/15. The cost of the goods sold was $9,440. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. Sold merchandise on VISA, $226,120. The cost of the goods sold was $135,430. Paid Papoose Creek Co. on account for purchase of November 5. Received cash on account from sale of November 8 to Quinn Co. Sold merchandise on account to Rabel Co., $60,700, terms 1/10, 1/30. The cost of the goods sold was $33,120 Paid VISA service fee of $3,580. Paid Quinn Co. a cash refund of $6,420 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,010. 13 14 15 23 24 28 30 Journalize the transactions. Refer to the Chart of Accounts for exact wording of account olles. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POSTRE DET CREDIT 1 ASSETS LABILITIES EQUITY 2 3 4 S

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