Exercise 216 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 On April 8 returned some of 5. On April 15 paid the amount due to Newport Company in full April 5 merchandise to Newport Company which cost $2,000 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 Debit Credit (1) April 5 (2) Apil 6 (3) Apil 7 (4) April 8 (5) April 15 Assume that Sherper Co. paid the balance due to Newport Company on May 4 instead of April 15. Prepare the journal entry to record this payment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit May 4