Purchase-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Niles Co. during March of the current year. Niles Co. uses the net method under a perpetual inventory system. Mar. 1. Purchased merchandise from Haas Co., 510,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $210 was added to the invoice, 5. Purchated merchandise from Whitman Co., $14,822, terms FOB destination, w/30. 10. Pald Haas Co, for involce of March 1. 13. Purchased merchandise from Jost Co, 14,400, terms FOB destination, 2/10, 1/30. 14. Issued debit memo to dost Co, for merchandise with an invoice amount of $4,600 returned from purchase on March 13. 18. Purchased merchandise from Fairhurst Company, $27,110, terms FOB shipping point, w/com. 18. Pald freight of $405 on March 18 purchase from Fairhurst Company 19. Purchased merchandise from Bickle Co., 521,200, terms FOB destination, 1/10, 1/30 23. Pald Dost 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 Niles Co. for March If an amount box does not require an entry leave it blank Required: Journalize the entries to record the transactions of Niles Co. for March. If an amount box does not require an entry, leave it blank. Mar. 1 Inventory Accounts Payable-Haas Co. Mar. 5 Inventory Accounts Payable-Whitman Co. Mar. 10 Accounts Payable-Haas Co. Cash I ID II II II II 10 10 10 10 10 Mar. 13 Inventory Accounts Payable-Jost Co. Mar. 14 Accounts Payable-Jost Co. Inventory Mar. 18 Inventory Inventory Mar. 18 Accounts Payable-Fairhurst Company Mar. 18 Inventory Cash Mar. 19 Inventory Accounts Payable-Bickle Co. Mar. 23 Accounts Payable-Jost Co. II II II II II II II I II II II II II II Cash Mar. 29 Accounts Payable-Bickle Co. Cash Mar. 31 Accounts Payable-Fairhurst Company Cash Mar. 31 Accounts Payable-Whitman Co. Cash