Exercise -LU (Part Level Su DmISSIOn This information relates to Rana Co On April 5, purchased merchandise from Craig Company for $35,000, terms 3/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $870 on merchandise purchased from Craiq Company 3. On April 7, purchased equipment on account for $35,700. 4. On April 8, returned some of April 5 merchandise, which cost $1,600, to Craiq Company. 5. On April 15, paid the amount due to Craig Company in full. Prepare the journal entries to record these transactions on the books of Rana Co. using a periodic inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Date Account Titles and Explanation Debit Credit 2. 4