From the information in BE5-5, prepare the journal entries to record the purchase transactions on Xiaoyan Ltd.'s books, assuming a periodic inventory system is used instead of a perpetual inventory system.

In BE5-5

Prepare the journal entries to record the following purchase transactions in Xiaoyan Ltd.'s books. Xiaoyan uses a perpetual inventory system.

Jan. 2 Xiaoyan purchased $10,000 of merchandise from Feng Corp., terms 1/10, n/30, FOB destination.

5 The appropriate company paid freight costs of $150.

6 Xiaoyan returned $1,000 of the merchandise purchased on January 2, because it was not needed.

11 Xiaoyan paid the balance owed to Feng.