Exercise 216 (Part Level Submission) This information relates to Sherper Co. 1. On April 5 purchased merchandise from Newport Company for $22,000, terms 2/10, n/10. 2. On April 6 paid freight costs of $900 on merchandise purchased from Newport. 3. On April 7 purchased equipment on account for $26,000. 4. On April 8 returned some of April 5 merchandise to Newport Company which cost $2,000 5 On April 15 paid the amount due to Newport Company in full. Prepare the journal entries to record the transactions listed above on the books of Sherper Co. Sherper Co. uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation (1) April 5 Debit Credit (2) April 6 (3) April 7 (4) April 8 (5) April 15