Identify each statement as true or false. If false, indicate how to correct the statement. E5.2 (LO 2), AP This information relates to Rice Co. 1. On April 5, purchased merchandise on account from Jax Company for $28,000, terms 2/10,n/30. 2. On April 6, paid freight costs of $700 on merchandise purchased from Jax. 3. On April 7. purchased equipment on account for $30,000. 4. On April 8, returned $3,600 of April 5 merchandise to Jax Company. 5. On April 15, paid the amount due to Jax Company in full