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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
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Journalize the entries to record the transactions of Niles Co. for March. If an amount box does not require an entry, leave it blank
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., $14,800, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $500 was added to the invoice. |
5. | Purchased merchandise from Whitman Co., $12,350, terms FOB destination, n/30. |
10. | Paid Haas Co. for invoice of March 1. |
13. | Purchased merchandise from Jost Co., $6,800, terms FOB destination, 1/10, n/30. |
14. | Issued debit memo to Jost Co. for $1,300 of merchandise returned from purchase on March 13. |
18. | Purchased merchandise from Fairhurst Company, $12,450, terms FOB shipping point, n/eom. |
18. | Paid freight of $190 on March 18 purchase from Fairhurst Company. |
19. | Purchased merchandise from Bickle Co., $9,950, 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 |
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