Search rted Ste" e HP. See what's Hot WebSice Gallery. wReynoldsn1 Kimmel, Accounting, 6e actice Gradebook ORION Dewnloadable eTextbook nment CALCULATOR FU Exercise 5-1 This information relates to Crane Co.. On April 5, purchased merchandise from Sheridan Company for $26,800, terms 2/10, n/30. 2. 1. 3. 4. 5. On April 6, paid freight costs of $620 on merchandise purchased from Sheridan Company. On April 7, purchased equipment on account for $34,400. On April 8, returnep $4,900 of April 5 merchandise to Sheridan Company. On April 15, paid the amount due to Sheridan Company in full. Prepare the journal entries to record the transactions listed above on Crane Co.'s books. Crane Co. uses a perpetual inventory system for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is ente journal entries in the order presented in the problem.) No. Date Account Titles and Explanation Debit Credit . April, Inventory 27.300 2. Apni Inventory