E5.2 (LO 2) Information related to Duffy Yachts is presented below. 1. On April 5, purchased merchandise on account from Thomas Nautical Supply for 25,000, terms 2/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of 900 on merchandise purchased from Thomas. 3. On April 7, purchased equipment on account for 26,000. 4. On April 8, returned damaged merchandise to Thomas and was granted a 2,600 credit for returned merchandise. 5. On April 15, paid the amount due to Thomas in full. Instructions a. Prepare the journal entries to record these transactions on the books of Duffy under a perpetual inventory system. b. Assume that Duffy paid the balance due to Thomas on May 4 instead of April 15. Prepare the jour- nal entry to record this payment