Exercise 5-1 This information relates to Ivanhoe Co.. 1. On April 5, purchased merchandise from Ph Company for $26,300, terms 2/10, n/30. 2. On April 6, paid freight costs of $640 on merchandise purchased from Pharoah Company. 3. On April 7, purchased equipment on account for $33,500. 4. On April 8, returned $3,700 of April 5 merchandise to Pharoah Company 5. On April 15, paid the amount due to Pharoah Company in full