Exercises 5-43 ces $1,700. A physical count of inventory determines ng for Merchandising Operations Instructions a. Prepare the journal entries to record these transactions on the books of Kerber Co. under a perpetual inventory system b. Assume that Kerber Co. paid the balance due to Wilkes Company on May 4 instead of Prepare the journal entry to record this payment. E5.3 (LO 2,3) On September 1, Nixa Office Supply had an inventory of 30 calculators at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. 6 9 Purchased 90 calculators at $22 each from York. Paid freight of $90 on calculators purchased from York Co. 10 12 14 20 Returned 3 calculators to York Co. for $69 cash (including freight) because they did not meet specifications. Sold 26 calculators costing $23 (including freight) for $31 each on account to Sura Book Store, terms n/30. Granted credit of $31 to Sura Book Store for the return of one calculator that was not ordered. Sold 30 calculators costing $23 for $32 each on account to Davis Card Shop. terms n/30 Instructions Journalize the September transactions. E5.4 (LO 2, 3) On June 10, Diaz Company purchased $8,000 of merchandise on account from ha Graiht oosts of $400 on June 1