(a) Prepare the journal entries to record the transactions listed above on Larkspur Co.'s books. Larkspur Co. uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. 2. 3. 5. (b) Assume that Larkspur Co. paid the balance due to Crane Company on May 4 instead of April 15. Prepare the journal entry to record this payment. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation May 4 Exercise 5-02 This information relates to Larkspur Co. 1. On April 5, purchased merchandise from Crane Company for $26,000, terms 3/10, n/30. 2. On April 6, paid freight costs of $520 on merchandise purchased from Crane. 3. On April 7, purchased equipment on account for $31,400. 4. On April 8, returned $4,100 of April 5 merchandise to Crane Company. 5. On April 15, paid the amount due to Crane Company in full