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Chapter 6 Homework Problems Show Me How Calculator eBook Print ltem 1. PR.06-01.ALGO Sales-Related and Purchase-Related Transactions Using Perpetual Inventory System The following were selected from among the transactions completed by Babcock Company during November of the current year 2. PR.06-03.ALG Nov. 3, Purchased merchandise on account from Moonlight Co., list price $91,000, trade discount 20%, terms FOB destination, 2/10, n/30. 3. PR.06-05 ALGO 4. Sold merchandise for cash, $36,310. The cost of the goods sold was $22,050, 5. Purchased merchandise on account from Papoose Creek Co., $42,750, terms FOB shipping point, 2/10, n/30, with prepaid freight of $810 added to 6. Returned $16,000 ($20,000 list price less trade discount of 20%) of merchandise purchased on November 3 from Moonlight Co. 8. Sold merchandise on account to Quinn Co., $14,150 with terms n/15. The cost of the merchandise sold was $9,750 13. Paid Moonlight Co. on account for purchase of November 3, less return of November 6. 14. Sold merchandise on VISA, $220,790. The cost of the goods sold was $152,750 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., $60,600, terms 1/10, n/30. The cost of the goods sold was $31,910. 28. Paid VISA service fee of $3,300. 30, Paid Quinn Co. a cash refund of $5,980 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,500 Required Journalize the transactions. Merchandise Inventory Check My Work 1 more Check My Work uses remaining. Previous Next Progress: 2/3 items

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