Business, 30.10.2019 22:31 ashleydenson1517

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 $93,000, trade discount 30%, terms fob destination, 2/10, n/30. 4 sold merchandise for cash, $35,370. the cost of the merchandise sold was $23,670. 5 purchased merchandise on account from 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%) of merchandise purchased on november 3 from moonlight co. 8 sold merchandise on account to quinn co., $17,080 with terms n/15. the cost of the merchandise sold was $10,010. 13 paid moonlight co. on account for purchase of november 3, less return of november 6. 14 sold merchandise on visa, $246,980. the cost of the merchandise sold was $152,530. 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., $52,400, terms 1/10, n/30. the cost of the merchandise sold was $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 of november 8. the cost of the returned merchandise was $3,390.

required: journalize the transactions. refer to the chart of accounts for exact wording of account titles.

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