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View Policies Current Attempt in Progress Prepare the necessary general journal entries for the month of October for Sheridan Retail for each situation given below. Sheridan uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Oct. 5 Paid cash of $11.592 for operating expenses that were incurred and properly recorded in the previous period. 9 Purchased merchandise for $20,000 on account. Credit terms: 3/10, n/30. 12 Paid a freight bill of $100 for merchandise purchased on October 9.. 17 Paid for merchandise purchased on October 9. The company takes all discounts to which it is entitled. 20 Sold merchandise for $7,360 to Rattles Distribution on account. The cost of the merchandise sold was $2,944, Credit terms: 2/10, r/30. 26 Issued a credit memo to Rattles Distribution for $276 for merchandise returned from the sale on October 20. The cost of the merchandise returned was $168. Question 2 of 3 Date - 1doc Account Titles and Explanation BUDGET (1) DOC 14 Assignment 1-doc Debit T4 Assignment -/3.5 E Credit III BUDGET I Show Question 2 of 3 (To record the sale of merchandise) (To record the cost of the merchandise sold) [To record the credit granted for the return) 14 Assignment 1-oc TRAFT LUDOG 14 Assignment doc III /3.5 E 111 BUDGET (1) k