Mar. 1. Purchased merchandise from Haas Co., $14,500, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $400 was added to the invoice. 5. Purchased merchandise from Whitman Co., $14,600, terms FOB destination, n/30. 10. Paid Haas Co. for invoice of March 1. 13. Purchased merchandise from Jost Co., $5,500, terms FOB destination, 1/10, n/30. 14. Issued debit memo to Jost Co. for $1,000 of merchandise returned from purchase on March 13. 18. Purchased merchandise from Fairhurst Company, $12,000, terms FOB shipping point, r/eom. 18. Paid freight of $300 on March 18 purchase from Fairhurst Company. 19. Purchased merchandise from Bickle Co., $11,800, tems 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 transadtions of Britt Co. for March.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Mar. 1. Purchased merchandise from Haas Co., $14,500, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $400 was
added to the invoice.
5. Purchased merchandise from Whitman Co., $14,600, terms FOB destination, n/30.
10. Paid Haas Co. for invoice of March 1.
13. Purchased merchandise from Jost Co., $5,500, terms FOB destination, 1/10, n/30.
14. Issued debit memo to Jost Co. for $1,000 of merchandise returned from purchase on March 13.
18. Purchased merchandise from Fairhurst Company, $12,000, terms FOB shipping point, ryeom.
18. Paid freight of $300 on March 18 purchase from Fairhurst Company.
19. Purchased merchandise from Bickle Co., $11,800, tems 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.
Mar. 1
Mar. 5
Mar. 10
Mar. 13
Mar. 14
Mar. 18-purchase
Mar. 18-freight
Mar. 19
Mar, 23
Mar. 29
Mar. 31-Fairhurst
Mar. 31-Whitman
O O 0 O O O O O O 0
O I 0 O 0 0 O 0 O 0 0
Transcribed Image Text:Mar. 1. Purchased merchandise from Haas Co., $14,500, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $400 was added to the invoice. 5. Purchased merchandise from Whitman Co., $14,600, terms FOB destination, n/30. 10. Paid Haas Co. for invoice of March 1. 13. Purchased merchandise from Jost Co., $5,500, terms FOB destination, 1/10, n/30. 14. Issued debit memo to Jost Co. for $1,000 of merchandise returned from purchase on March 13. 18. Purchased merchandise from Fairhurst Company, $12,000, terms FOB shipping point, ryeom. 18. Paid freight of $300 on March 18 purchase from Fairhurst Company. 19. Purchased merchandise from Bickle Co., $11,800, tems 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. Mar. 1 Mar. 5 Mar. 10 Mar. 13 Mar. 14 Mar. 18-purchase Mar. 18-freight Mar. 19 Mar, 23 Mar. 29 Mar. 31-Fairhurst Mar. 31-Whitman O O 0 O O O O O O 0 O I 0 O 0 0 O 0 O 0 0
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