The following were selected from among the transactionscompleted by Babcock Company during November of the current year:Nov. 3 Purchased merchandise on account from Moonlight Co., listprice $93,000, trade discount 30%, terms FOB destination, 2/10,n/30. 4 Sold merchandise for cash, $35,370. The cost of themerchandise sold was $23,670. 5 Purchased merchandise on accountfrom Papoose Creek Co., $44,400, terms FOB shipping point, 2/10,n/30, with prepaid freight of $810 added to the invoice. 6 Returned$13,300 ($19,000 list price less trade discount of 30%) ofmerchandise purchased on November 3 from Moonlight Co. 8 Soldmerchandise on account to Quinn Co., $17,080 with terms n/15. Thecost of the merchandise sold was $10,010. 13 Paid Moonlight Co. onaccount for purchase of November 3, less return of November 6. 14Sold merchandise on VISA, $246,980. The cost of the merchandisesold was $152,530. 15 Paid Papoose Creek Co. on account forpurchase of November 5. 23 Received cash on account from sale ofNovember 8 to Quinn Co. 24 Sold merchandise on account to RabelCo., $52,400, terms 1/10, n/30. The cost of the merchandise soldwas $31,410. 28 Paid VISA service fee of $3,220. 30 Paid Quinn Co.a cash refund of $6,020 for returned merchandise from sale ofNovember 8. The cost of the returned merchandise was $3,390.Required: Journalize the transactions. Refer to the Chart ofAccounts for exact wording of account titles.
