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The following were selected from among the transactions completed by Babcock Company during November of the current year Journalize the transactions

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 $85,000, trade discount 25%, terms FOB destination, 2/10, n/30.
    4. Sold merchandise for cash, $37,680. The cost of the goods sold was $22,600.
    5. Purchased merchandise on account from Papoose Creek Co., $47,500, terms FOB shipping point, 2/10, n/30, with prepaid freight of $810 added to the invoice.
    6. Returned merchandise with an invoice amount of $13,500 ($18,000 list price less trade discount of 25%) purchased on November 3 from Moonlight Co.
    8. Sold merchandise on account to Quinn Co., $15,600 with terms n/15. The cost of the goods sold was $9,400.
  13. Paid Moonlight Co. on account for purchase of November 3, less return of November 6.
  14. Sold merchandise on VISA, $236,000. The cost of the goods sold was $140,000.
  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., $56,900, terms 1/10, n/30. The cost of the goods sold was $34,000.
  28. Paid VISA service fee of $3,540.
  30. Paid Quinn Co. a cash refund of $6,000 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,300.

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Journalize the transactions.

Apr 14 2021 View more View Less

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