Sales-related and purchase-related transactions using perpetual inventory_systemChart of AccountsJournalInstructionsThe following were selected from among the transactions completed by Babcock Company during November of the current yearNov3Purchased merchandise on account from Moonlight Co., list price $88,000, trade discount 20%, termsFOB destination, 2/10, n/304 Sold merchandise for cash, $41,250. The cost of the merchandise sold was $22,2505Purchased merchandise on account from Papoose Creek Co., $43,700, terms FOB shipping point,2/10, n/30, with prepaid freight of $840 added to the invoiceReturned $13,600 ($17,000 list price less trade discount of 20%) of merchandise purchased onNovember 3 from Moonlight CoSold merchandise on account to Quinn Co., $16,100 with terms n/15. The cost of the merchandise soldwas $9,440Paid Moonlight Co. on account for purchase of November 3, less return of November 6Sold merchandise on VISA, $226,120. The cost of the merchandise sold was $135,430Paid Papoose Creek Co. on account for purchase of November 5Received cash on account from sale of November 8 to Quinn CoSold merchandise on account to Rabel Co., $60,700, terms 1/10, n/30. The cost of the merchandisesold was $33,120Paid VISA service fee of $3,580Paid Quinn Co. a cash refund of $6,420 for returned merchandise from sale of November 8. The cost ofthe returned merchandise was $3,010813141523242830Check My Work2 more Check My Work uses remainingPreviousEmail InstructorSave and Exit Submit Assignment for Grading

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Asked Feb 18, 2019

Hi, I submitted this question earlier but received feedback that the attachment of the question I sent wasn't very clear so I'm trying again. I took the screen grab again as well have copied and pasted the question directly as well. It's asking to journalize the transactions. Hope this is better than the last time. Thanks!

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 $88,000, trade discount 20%, terms FOB destination, 2/10, n/30.
4 Sold merchandise for cash, $41,250. The cost of the merchandise sold was $22,250.
5 Purchased merchandise on account from Papoose Creek Co., $43,700, terms FOB shipping point, 2/10, n/30, with prepaid freight of $840 added to the invoice.
6 Returned $13,600 ($17,000 list price less trade discount of 20%) of merchandise purchased on November 3 from Moonlight Co.
8 Sold merchandise on account to Quinn Co., $16,100 with terms n/15. The cost of the merchandise sold was $9,440.
13 Paid Moonlight Co. on account for purchase of November 3, less return of November 6.
14 Sold merchandise on VISA, $226,120. The cost of the merchandise sold was $135,430.
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., $60,700, terms 1/10, n/30. The cost of the merchandise sold was $33,120.
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 $3,010.
Required:
Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

Sales-related and purchase-related transactions using perpetual inventory_system
Chart of Accounts
Journal
Instructions
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 $88,000, trade discount 20%, terms
FOB destination, 2/10, n/30
4 Sold merchandise for cash, $41,250. The cost of the merchandise sold was $22,250
5
Purchased merchandise on account from Papoose Creek Co., $43,700, terms FOB shipping point,
2/10, n/30, with prepaid freight of $840 added to the invoice
Returned $13,600 ($17,000 list price less trade discount of 20%) of merchandise purchased on
November 3 from Moonlight Co
Sold merchandise on account to Quinn Co., $16,100 with terms n/15. The cost of the merchandise sold
was $9,440
Paid Moonlight Co. on account for purchase of November 3, less return of November 6
Sold merchandise on VISA, $226,120. The cost of the merchandise sold was $135,430
Paid Papoose Creek Co. on account for purchase of November 5
Received cash on account from sale of November 8 to Quinn Co
Sold merchandise on account to Rabel Co., $60,700, terms 1/10, n/30. The cost of the merchandise
sold was $33,120
Paid VISA service fee of $3,580
Paid Quinn Co. a cash refund of $6,420 for returned merchandise from sale of November 8. The cost of
the returned merchandise was $3,010
8
13
14
15
23
24
28
30
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Sales-related and purchase-related transactions using perpetual inventory_system Chart of Accounts Journal Instructions 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 $88,000, trade discount 20%, terms FOB destination, 2/10, n/30 4 Sold merchandise for cash, $41,250. The cost of the merchandise sold was $22,250 5 Purchased merchandise on account from Papoose Creek Co., $43,700, terms FOB shipping point, 2/10, n/30, with prepaid freight of $840 added to the invoice Returned $13,600 ($17,000 list price less trade discount of 20%) of merchandise purchased on November 3 from Moonlight Co Sold merchandise on account to Quinn Co., $16,100 with terms n/15. The cost of the merchandise sold was $9,440 Paid Moonlight Co. on account for purchase of November 3, less return of November 6 Sold merchandise on VISA, $226,120. The cost of the merchandise sold was $135,430 Paid Papoose Creek Co. on account for purchase of November 5 Received cash on account from sale of November 8 to Quinn Co Sold merchandise on account to Rabel Co., $60,700, terms 1/10, n/30. The cost of the merchandise sold was $33,120 Paid VISA service fee of $3,580 Paid Quinn Co. a cash refund of $6,420 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,010 8 13 14 15 23 24 28 30 Check My Work 2 more Check My Work uses remaining Previous Email InstructorSave and Exit Submit Assignment for Grading

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