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Sales-Related and Purchase-Related Transactions Using Perpetual Inventory System The following were selected from among the transactions completed by Harrison Company during November of the current year: Nov. 3. Purchased merchandise on account from Moonlight Co., list price $79,000, trade discount 30%, terms FOB destination, 2/10, n/30. 4. Sold merchandise for cash, $37,580. The cost of the merchandise sold was $22,120. 5. Purchased merchandise on account from Papoose Creek Co., $43,900, terms FOB shipping point, 2/10, n/30, with prepaid freight of $780 added to th 6. Returned $11,900 ($17,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. 8. Sold merchandise on account to Quinn Co., $16,310 with terms n/15. The cost of the merchandise sold was $9,720. 13. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. 14. Sold merchandise on VISA, $257,150. The cost of the merchandise sold was $148,830. 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., $57,500, terms 1/10, n/30. The cost of the merchandise sold was $31,700. 28. Paid VISA service fee of $3,790. 30. Paid Quinn Co. a cash refund of $1,520 for damaged merchandise from sale of November 8. Quinn Co. kept the merchandise.

Journalize the transactions. If an amount box does not require an entry, leave it blank. Nov. 3 Nov. 4-sale Nov. 4-cost Nov. 5 > > Nov. 6 Nov. 8-sale Nov. 8-cost Nov. 13

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