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purchase related transactions using perpetual Inventory System PUrchase-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Niles Co, during March of
purchase related transactions using perpetual Inventory System
PUrchase-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Niles Co, during March of the current year: Mar. 1. Purchased merchandise from Haas C0, 443,250, terms FO8 thispling point, 2/10, n/eom. Prepaid freight of 5650 was added to the involce. 5. Purchased merchandice from whitman Co., 319,175, terms fon deatioation, n/30. 20. Paid Haas Co. for invoice of March 1. 13. Purchased merchandise from Jost CO1,$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 Failhurst Company, $13,560, terms FOB shipping point, neom. 18. Paid freiaht of $140 on March 18 purchase from Fairhurst Company. 19. Purchased merchandise from Bickle Co,56,500, terms FOB destination, 2/10, r/30. 23. Paid Jost Co, for invoice of March 13 less debit meme of March 14. 29. Paid Bidkle co. for invoice of March 19. 31. Paid Fairhurst Company for inwoice of March 18. 31. Paid Whitman Co. for invoice of March 5. Required: Hournaliten the ehtries to record the transactions of Nles Co. for March. If an amouant wa.a Step by Step Solution
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