This information relates to Ivanhoe Co..

1.		On April 5, purchased merchandise from Pharoah Company for $26,300, terms 2/10, n/30.
2.		On April 6, paid freight costs of $640 on merchandise purchased from Pharoah Company.
3.		On April 7, purchased equipment on account for $33,500.
4.		On April 8, returned $3,700 of April 5 merchandise to Pharoah Company.
5.		On April 15, paid the amount due to Pharoah Company in full.

Prepare the journal entries to record the transactions listed above on Ivanhoe Co.s books. Ivanhoe Co. uses a perpetual inventory system.

No. Date Account Titles and Explanation Debit Credit 1. April 5 Inventory 26300 Accounts Payable 26300 2 April 6Inventory 640 Cash 640 ea 3. April 7 Equipment 33500 Accounts Payable 33500 4. April 8 |Accounts Payable 3700 Inventory 3700 5. April 15% Accounts Payable 22600 Cash 21922 Inventory 678