This information relates to Sherper Co. 1. On April 5 purchased merchandise from Newport Company for $22,000, terms 2/10, n/10. 2. On April 6 paid freight costs of $900 on merchandise purchased from Newport. 3. On April 7 purchased equipment on account for $26,000. 4. On April 8 returned some of April 5 merchandise to Newport Company which cost $2,000. 5. On April 15 paid the amount due to Newport Company in full. Prepare the journal entries to record the transactions listed above on the books of Sherper Co. Sherper Co. uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation April 5 merchandise inventory April 6 Accounts Payable merchandise inventory Cash April 7 Equipment Accounts Payable April 8 Accounts Payable April 15 Debit 22,000 900 26,000 merchandise inventory 20,000 Credit 22, 26