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 Co., $15,000, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $550 was added to the invoice. 5. Purchased merchandise from Whitman Co., $14,800, terms FOB destination, n/30. 10. Paid Haas Co. for invoice of March 1. 13. Purchased merchandise from Jost Co., $4,700, terms FOB destination, 1/10, n/30. 14. Issued debit memo to Jost Co. for $900 of merchandise returned from purchase on March 13. 18. Purchased merchandise from Fairhurst Company, $10,300, terms FOB shipping point, n/eom. 18. Paid freight of $200 on March 18 purchase from Fairhurst Company. 19. Purchased merchandise from Bickle Co., $10,950, 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. Required: Journalize the entries to record the transactions of Britt Co. for March. Merchandise Inventory Accounts Payable-Haas Co. Mar. 1 Mar. 5 14,800 Merchandise Inventory Accounts Payable-Whitman Co. 14,800 Mar 10 Accounts Payable-Haas Co. Cash Mar. 13 Merchandise Inventory Accounts Payable-Jost Co. Mar. 14 Accounts Payable-Jost Co. Merchandise Inventory 10,300 Mar. 18-purchase Merchandise Inventory Accounts Payable-Fairhurst Company 10,300 200 Mar. 18-freight Merchandise Inventory Cash 200 Mar. 19 Merchandise Inventory Accounts Payable-Bickle Co. Mar. 23 Accounts Payable-Jost Co. Cash Mar 29 Accounts Payable-Bickle Co. Cash II III Mar. 31-Fairhurst Accounts Payable-Fairhurst Company Cash Mar. 31-Whitman Accounts Payable-Whitman Co. Cash