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Exercise 216 This information relates to Sherper Co to Sherper Co . On April s...

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Exercise 216 This information relates to Sherper Co to Sherper Co . On April s purchased merchandise fram Newport Company for $22,000, terms 2/10, n/10. 2 On April & paid freight costs of $900 on merchandise purchased from Newport. 3. on April 7 purchased equipment on account for 26,000. On April 8 returned some af April 5 merchandise to Newport Company which cost $2,000. . On April 15 paid the amount due to Newport Company in full Prepare the journal entries to recard the transactions listed sbove on the baoks 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.) No. Date Account Tities and Explanation (1) April (2) April 6 3) April 7 (1) April8 (5) April 15 Credit account tities are automatically indented when the amount is entered. Do not indent manually.) (credit Assume th Date Account Tities and Explanation May 1 A at Sherper Co. paid the balance due to Newport Company on May 4 instead of April 15. Prepare the journal entry to record t this payment

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