please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Note: Every entry should have narration please Problem 4.1 (Journal Entries Purchase-RelatedTransactions Using Perpetual Inventory System)(Readings: Chapter 6)The following selected transactions were completed by NilesCo. during March of the current year:Mar. 1. Purchased merchandise from Haas Co., $43,250, termsFOB shipping point, 2/10, n/eom. Prepaid freight of $650was 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 1.13.Purchased merchandise from Jost Co., $15,550, termsFOB destination, 2/10, n/30.14.Issued debit memo to Jost Co. for $3,750 ofmerchandise returned from purchase on March 13.18.Purchased merchandise from Fairhurst Company,$13,560, terms FOB shipping point, n/com.18.Paid freight of $140 on March 18 purchase fromFairhurst 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 debitmemo of March 14.29.31.31.Paid Bickle Co. for invoice of March 19.Paid Fairhurst Company for invoice of March 18.Paid Whitman Co. for invoice of March 5.INSTRUCTIONSJournalize the entries to record the transactions of Niles Co. forMarch.

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Description: please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Note: Every entry should have narration p