The following were selected from among the transactions completed by Harrison Company during November of the current year:
Nov. 3.
Purchased merchandise on account from Moonlight Co., list price $120,000, trade discount 25%, terms FOB destination, 2/10, n/30.
4.
Sold merchandise for cash, $53,500. The cost of the merchandise sold was $32,100.
5.
Purchased merchandise on account from Papoose Creek Co., $67,400, terms FOB shipping point, 2/10, n/30, with prepaid freight of $1,150 added to the invoice.
6.
Returned $19,200 ($25,600 list price less trade discount of 25%) of merchandise purchased on November 3 from Moonlight Co.
8.
Sold merchandise on account to Quinn Co., $22,100 with terms n/15. The cost of the merchandise sold was $13,000.
13.
Paid Moonlight Co. on account for purchase of November 3, less return of November 6.
14.
Sold merchandise on VISA, $335,000. The cost of the merchandise sold was $198,700.
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., $80,800, terms 1/10, n/30. The cost of the merchandise sold was $48,300.
28.
Paid VISA service fee of $5,030.
30.
Paid Quinn Co. a cash refund of $1,770 for damaged merchandise from sale of November 8. Quinn Co. kept the merchandise.
Instructions
Journalize the transactions.