ES-21A. Record merchandising transactions: perpetual inventory system.(LO 1,2). Assume the following transactions for Clark's Appliances, Ine., took place during May. Clark's Appliances uses a perpetual inventory system. Enter each of the transactions into the accounting equation May 2 Purchased refrigerators on account at a total cost of $500,000; terms 1/10, n/30 Paid freight of $800 on refrigerators purchased from GE Returned refrigerators to GE because they were damaged: received a credit of S5,000 from GE Sold refrigerators costing $100,000 for $180,000 to Pizzeria Number 1 on account, terms n/30 Gave a credit of S3,000 to Pizzeria Number 1 for the return of a refrigerator not ordered. Clark's cost was $1,200. May 9 May 16 May 22 May 24