tudent Accounting Jobs (with S X + T 53c280d7491df7c01178ed982?response-content-disposition=inline%3 Bfilename%3D" ACC1AIS%20-%20Homework%20Exercises ACC1AIS-Workshop 3 Homework Exercise xercise 1 - Periodic Inventory Systems - Exercise 5.1 Page 323 EXERCISES E5.1 Journalise purchase transactions. This information relates to Peters Ltd. LO1 1. On 5 April purchased inventory from D. Nicks Ltd for $9000, terms 2/7, n/30, FOB shipping point. 2. On 6 April paid freight costs of $450 on inventory purchased from D. Nicks Ltd. 3. On 7 April purchased equipment on account for $13.000. 4. On 8 April returned damaged inventory to D. Nicks Ltd and was granted a $1500 allowance. 5. On 9 April paid the amount due to D. Nicks Ltd in full. Required (a) Prepare the journal entries to record these transactions on the books of Peters Ltd using a periodic inventory system. (b) Assume that Peters Ltd paid the balance due to D. Nicks Ltd on 4 May instead of 9 April. Prepare the journal entry to record this payment.