Current Attempt in Progress Ivanhoe Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April 3 Purchased merchandise from Culver Ltd. for $26,500, terms 2/10,n/30, FOB shipping point. 6 The appropriate company paid freight costs of $650 on the merchandise purchased on April 3. 7 Purchased supplies on account for $5,800. 8 Returned merchandise to Culver and received a credit of $4,300. The merchandise was returned to inventory for future resale. 30 Paid the amount due to Culver in full. Additional information: 1. The cost of the merchandise sold on April 3 was $18,000. 2. The cost of the merchandise returned on April 8 was $2,810. 3. Culver uses a perpetual inventory system. Record the transactions in the books of Culver. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) (To record return of goods) (To record cost of merchandise returned)