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 April 15. Prepare the journal entry to record this payment. E5-3 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 follow- ing transactions occurred. Purchased 90 calculators at $22 each from York, terms net/30. Paid freight of $90 on calculators purchased from York Co. Returned 3 calculators to York Co. for $69 credit (including freight) because they did not meet specifications. Sold 26 calculators costing $23 (including freight) for $31 each 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 to Davis Card Shop, terms n/30 Sept. 6 9 10 12 14 20 Instructions Journalize the September transactions. s E5-4 On June 10, Diaz Company purchased $8,000 of merchandise from Taylor Company, FOB shipping point, terms 2/10, n/30. Diaz pays the freight costs of $400 on June 11. Dami 9 of aged goods totaling $300 are returned to Taylor for credit on June 12. The fair value d is 70 On ue 10 Diz os auler Company i full less the purchase dis