Next > Question 3 View Policies Current Attempt in Progress This information relates to Sheridan Co.. 1. On April 5, purchased merchandise from Crane Company for $27,600, terms 3/10, 1/30. 2. On April 6, paid freight costs of $770 on merchandise purchased from Crane Company. 3. On April 7, purchased equipment on account for $34,300. 4. On April 8, returned $5,300 of April 5 merchandise to Crane Company. 5. On April 15, paid the amount due to Crane Company in full. (a) Prepare the journal entries to record the transactions listed above on Sheridan Co.'s books. Sheridan Co. use inventory system. (If no entry is required, select "No Entry" for the account titles and enter o for the amo account titles are automatically indented when amount is entered. Do not indent manually. Record jour the order presented in the problem.) Date Account Titles and Explanation Debit nyom orowodorur Tw o rror -um ruum account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (b) Assume that Sheridan Co. paid the balance due to Crane Company on May 4 instead of April 15. Prepare the journal entry to record this payment. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit