Current Attempt in Progress Use a tabular summary to record the following transactions for Sheridan Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (a) On March 2, Sheridan Company sold $736,000 of merchandise to Crane Company on account. The cost of the merchandise sold was $496,800. (b) On March 6, Crane Company returned \$128,800 of the merchandise purchased on March 2. The cost of the merchandise returned was $86,480. (c) On March 12, Sheridan Company received the balance due from Crane Company. (Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses e.g. (45).) Use a tabular summary to record the following transactions for Sheridan Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (a) On March 2, Sheridan Company sold $736,000 of merchandise to Crane Company on account. The cost of the merchandise sold was $496,800 (b) On March 6, Crane Company returned $128,800 of the merchandise purchased on March 2. The cost of the merchandise returned was $86,480. (c) On March 12, Sheridan Company received the balance due from Crane Company. (Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses e.g. (45).)