Below are the transactions for Dunder Mifflin Paper Company for the month of March. Instructions: Using a perpetual inventory system, prepare the journal entries to record the transactions.

1. Purchased $1000 of inventory on terms n/30 from Halperts Paper Supply.

1. Paid freight charges of $50 on merchandise purchased on March 1st

3. Returned $200 of inventory from purchase made on March 1st

9. Paid for purchase made on March 1st

11. Sold the merchandise to D. Schrute for $1600 for terms n/30. The merchandise cost $1000.

16. Purchased a company car from Bernard Motors for $10,000 on account.

19. D. Schrute returned $600 of items they purchased on the 11th. The value of the merchandise returned is $375.

23. D. Schrute paid for the purchase they made on the 11th.