Current Attempt in Progress The following transactions occurred in April and May. Both companies use a perpetual inventory system. Apr. 5 Ivanhoe Company purchased merchandise from DeVito Company for $12,000, terms 2/10, n/30, FOB shipping point. DeVito had paid $8,500 for the merchandise. 6 The correct company paid freight costs of $340. 8 Ivanhoe Company returned damaged merchandise to DeVito Company and was given a purchase allowance of $1,900. DeVito determined the merchandise could not be repaired and sent it to the recyclers. The merchandise had cost DeVito $1,346. May 4 Ivanhoe paid the amount due to DeVito Company in full. Prepare the journal entries to record the above transactions for Ivanhoe Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Record journal entries in the order pres the problem.) Date Account Titles and Explanation Debit Credit Apr. 5 (Purchase on account.) Date Account Titles and Explanation Debit Credit Apr. 5 Apr. 6 Apr. 8 May 4 (To record sales on account.) (To record cost of goods sold.)