Current Attempt in Progress This information relates to Wildhorse Co. 1. 2. 3. On April 5 purchased merchandise from Newport Company for $25,000, terms 2/10,6/10, On April 6 paid freight costs of $1,000 on merchandise purchased from Newport. On April 7 purchased equipment on account for $28,000. On April 8 returned some of April 5 merchandise to Newport Company which cost $2,100. On April 15 paid the amount due to Newport Company in full. 4. 5. (a) Prepare the journal entries to record the transactions listed above on the books of Wildhorse Co. Wildhorse Couses 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.) Debit Credit Date April Account Titles and Explanation Inventory 25000 25000 Accounts Payable 900 V April 6 Inventory 900 Cash ./26 Prepare the journal entries to record the transactions listed above on the books of Wildhorse Co Wildhorse Causes a perpetual inventory system. Odit account titles are automatically indented when the amount is entered Do not indent manually Record journal entries in the order presented in the problem.) Account Titles and Explanation Date April Debit Credit Inventory 25000 Accounts Payable April Inventory 00 Cash April Equipment 21000 Accounts Payable Apr Accounts Payable 2100 2100 Inventory Accounts Payable April 15 Inventory eTextbook and Media