PR 5-1B Purchase-related transactions
The following selected transactions were completed by Niles Co. during March of the current year:
| Mar. 1. | Purchased merchandise from Haas Co., $43,250, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $650 was added to the invoice. |
| 5. | Purchased merchandise from Whitman Co., $19,175, terms FOB destination, n/30. |
| 10. | Paid Haas Co. for invoice of March 1, less discount. |
| 13. | Purchased merchandise from Jost Co., $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 Fairhurst Company, $13,560, terms FOB shipping point, n/eom. |
| 18. | Paid freight of $140 on March 18 purchase from Fairhurst Company. |
| 19. | Purchased merchandise from Bickle Co., $6,500, terms FOB destination, 2/10, n/30. |
| 23. | Paid Jost Co. for invoice of March 13, less debit memo of March 14 and discount. |
| 29. | Paid Bickle Co. for invoice of March 19, less discount. |
| 31. | Paid Fairhurst Company for invoice of March 18. |
| 31. | Paid Whitman Co. for invoice of March 5. |
Instructions
Journalize the entries to record the transactions of Niles Co. for March.
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