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chase-Related Transactions Using Perpetual Inventory System following selected transactions were completed by Niles Co. during March of the current year: lar. 1. Purchased merchandise from Haas Co., $43,250, terms FOE shipping point, 2/10, n/eom. Prepaid freight of $650 added to the invoice. 5. Purchased merchandise from Whitman Co., $19,175, terms FOB destination, n/30. 10. Paid Haas Co. for invoice of March 1. 13. Purchased merchandise from Jost Co., $15,550, terms FOB destination, 2/10,N/30. 14. Issued debit memo to Jost Co, for $3,750 of merchandise returned from purchase on March 13. 18. Purchased merchandise from Fairhurst Company, $13,560, terms FOB shipping point, n/eom. 8. Paid freight of $140 on March 18 purchase from Fairhurst Company. 19. Purchased merchandise from Bickle Co., $6,500, terms FOB destination, 2/10, n/30. 23. Paid Jost Co, for invoice of March 13 less debit memo of March 14. 29. Paid Bickle Co, for invoice of March 19. 31. Paid Fairhurst Company for invoice of March 18. 31. Paid Whitman Co. for invoice of March 5. quired: rnalize the entries to record the transactions of Niles Co. for March. If an amount box does not require an ry, leave it blank. Mar. 10 Accounts Payable-Haas Co. 9,815X Cash 9,623X Mar. 13 MerchandiseInventory 12,650 Mar. 14 Accounts Payable-Jost Co.v Merchandise Inventory Mar. 18-purchase Merchandise Inventory 26,810X Accounts Payable-Fairhurst Company 26,810 Mar. 18-freight Merchandise Inventory Mar. 19 Merchandise Inventory Accounts Payable-Bickle Co. 22,900 12,650 Cash = Accounts Payable-Jost Co. 8,450 Mar. 23 Cash 22,900x Mar. 29 Accounts Payable-Bickle CO. 22,900X Cash 22,442 Mar. 31-Fairhurst Accounts Payable-Fairhurst Company [26,810 Cash 26,810x Mar. 31-Whitman Accounts Payable-Whitman Co. 14,542 Cash 14,542

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