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Sales-Related and Purchase-Related Transactions Using Perpetual Inventory System 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 $83,000, trade discount 30%, terms FOB destination, 2/10, n/30. 4. Sold merchandise for cash, $36,480. The cost of the goods sold was $21,090. 5. Purchased merchandise on account from Papoose Creek Co., $43,050, terms FOB shipping point, 2/10, n/30, with prepaid freight of $870 added to the invoice. 6. Returned $11,200 ($16,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. 8. Sold merchandise on account to Quinn Co., $14,220 with terms n/15. The cost of the merchandise sold was $9,550. 13. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. 14. Sold merchandise on VISA, $244,490. The cost of the goods sold was $138,790. 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., $60,100, terms 1/10, n/30. The cost of the goods sold was $32,690. 28. Paid VISA service fee of $3,200. 30. Paid Quinn Co. a cash refund of $6,310 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,170. Required: Journalize the transactions..

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