From the information in BE5.5, prepare the journal entries to record the purchase transactions on Xtra Inc.'s books, assuming a periodic inventory system is used instead of a perpetual inventory system.
In BE 5.5
Jan. 2 Xtra purchased goods for $45,000 from Fundy Corp., terms 2/10, n/45, FOB destination.
5 The appropriate company paid freight costs of $900.
6 Xtra returned $6,000 of the goods purchased on January 2, because it was not needed.
11 Xtra paid the balance owed to Fundy.