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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 $89,000, trade discount 30%, terms FOB destination, 2/10,n/30. 4 Sold merchandise for cash, $38,210. The cost of the goods sold was $20,810. 5 Purchased merchandise on account from Papoose Creek Co., $51,550, terms FOB shipping_point, 2/10,n/30, with prepaid freight of $730 added to the invoice. 6 Returned merchandise with an invoice amount of $14,000($20,000 list price less trade discount of 30% ) purchased on November 3 from Moonlight Co. 8 Sold merchandise on account to Quinn Co., $15,010 with terms n/15. The cost of the goods sold was $10,190 13 Paid Moonlight Co. on account for purchase of November 3 , less return of November 6. 14 Sold merchandise with a list price of $231,570 to customers who used VISA and who redeemed $7,300 of pointof- sale coupons. The cost of the goods sold was $142,060. 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., $54,800, terms n/30. The cost of the goods sold was $33,850 28 Paid VISA service fee of $3,580. 30 Paid Quinn Co. a cash refund of $6,420 for returned merchandise from sale of November 8 . The cost of the returned merchandise was $3,140. 30 During November, printed a coupon with each customer's sales receipt for $2 off the customer's next purchase of over $15. The coupons may be redeemed during December. Of the total of 25,000 coupons printed, it is estimated that 55% will be redeemed. FOB destination, 2/10,n/30. Sold merchandise for cash, $38,210. The cost of the goods sold was $20,810. 5 Purchased merchandise on account from Papoose Creek Co., $51,550, terms FOB shipping_point, 2/10,n/30, with prepaid freight of $730 added to the invoice. 6 Returned merchandise with an invoice amount of $14,000($20,000 list price less trade discount of 30%) purchased on November 3 from Moonlight Co. 8 Sold merchandise on account to Quinn Co., $15,010 with terms n/15. The cost of the goods sold was $10,190 3 Paid Moonlight Co. on account for purchase of November 3 , less return of November 6. 14 Sold merchandise with a list price of $231,570 to customers who used VISA and who redeemed $7,300 of pointof- sale coupons. The cost of the goods sold was $142,060. Required: 1. Journalize the November transactions. 2. Assume that as of December 31,10,100 of the $2-off coupons issued during November had been redeemed by customers. Journalize the entry for the remaining unredeemed coupons

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