Current Attempt in Progress The following transactions are for Oriole Company. 1. On December 3, Oriole Company sold $506,200 of merchandise to Sheffield Co. on account, terms 3/10,n/30. The cost of the merchandise sold was $365,100. On December 8, Sheffield Co. was granted an allowance of $29.900 for merchandise purchased on December 3. On December 13, Oriole Company received the balance due from Sheffield Co. 2 3. (a) Prepare the journal entries to record these transactions on the books of Oriole Company using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) No. Date Account Titles and Explanation Debit Credit 1 (To record credit sale) (a) Prepare the journal entries to record these transactions on the books of Oriole Company using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) No. Date Account Titles and Explanation Debit Credit 1 (To record credit sale) (To record cost of merchandise sold) 2 3. Dec. 13