The following were selected from among the transactions completed by Babcock Company during November of the current year:

Nov.3Purchased merchandise on account from Moonlight Co., list price $85,000, trade discount 25%, terms FOB destination, 2/10, n/30.4Sold merchandise for cash, $37,680. The cost of the goods sold was $22,600.5Purchased 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.6Returned merchandise with an invoice amount of $13,500 ($18,000 list price less trade discount of 25%) purchased on November 3 from Moonlight Co.8Sold merchandise on account to Quinn Co., $15,600 with terms n/15. The cost of the goods sold was $9,400.13Paid Moonlight Co. on account for purchase of November 3, less return of November 6.14Sold merchandise with a list price of $236,000 to customers who used VISA and who redeemed $8,000 of pointof- sale coupons. The cost of the goods sold was $140,000.15Paid Papoose Creek Co. on account for purchase of November 5.23Received cash on account from sale of November 8 to Quinn Co.24Sold merchandise on account to Rabel Co., $56,900, terms n/30. The cost of the goods sold was $34,000.28Paid VISA service fee of $3,540.30Paid Quinn Co. a cash refund of $6,000 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,300.30During November, printed a coupon with each customers sales receipt for $2 off the customers next purchase of over $15. The coupons may be redeemed during December. Of the total of 20,000 coupons printed, it is estimated that 55% will be redeemed.

Required:

1. Journalize the November transactions.2. Assume that as of December 31, 10,400 of the $2-off coupons issued during November had been redeemed by customers. Journalize the entry for the remaining unredeemed coupons.

Instructions The following were selected trom among the transactions completed by Babcock Company during November of the current yoar: Nov. 3 Purchased merchandise on account from Moonlight Co., list price \$85, 000, trashe discount 25%, terms FOB desination 2/10,n/30. 4 Sold merchandise for cash, $37,680. The cost af the goods sold was $22.600. 5 Purchased merchandise on account from Papoose Creek Co., $47,500, terms EOB shipping eoint, 2/10,n/30, with prepaid froight of $810 added to the invoice. 6 Retumed merchandise with an invoice amount of $13,500 i\$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 torms N/15. The cost of the goods sold was $9,400. 13 Paid Moonlight Co. on account for purchase of November 3, less retum of Novernber 6. 14 Sold merchandise with a list price of $236,000 to customers who used VISA and who redeemed $8,000 of pointof-sale coupons. 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 B to Quinn Ca. 24 Sold merchandse on account to Pabel Co., $56,900, terms 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 tor retumed merchandise trom sale of November 8 . The oost of the retumed merchandise was $3,300. 30 During November, printed a coupon with each customer's sales receipt for $2 oft the customer's next purchase of over \$15. The coupons may be redeemed during December, Of the total of 20,000 coupons peinted, it is estimated that 55% will be redeemed. Required: 1. Joumalize the November transactions: 2. Assume that as of Decomber 31, 10,400 of the S2-off coupons issued during November had been redeemed by customers. Journalize the entry for the remaining unvedeemod coupons. 1. Journalize the November transactions