PRINTER VERSION CALCULATOR STANDARD VIEW BACK NEXT Exercise 5-11 Your answer is partially correct. Try again. An inexperienced accountant for Sheridan Company made the following errors in recording merchandising transactions. A $370 refund to a customer for faulty merchandise was debited to Sales Revenue $370 and credited to Cash $370 A $281 credit purchase of supplies was debited to Inventory $281 and credited to Cash $281 1. 2. A $180 sales discount was debited to Sales Revenue. 3. A cash payment of $81 for freight on merchandise purchases was debited to Freight-Out $810 and credited to Cash $810 4. Prepare separate correcting entries for each error, assuming that the incorrect entry is not reversed. (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 0 for the amounts.) No. Account Titles and Explanation Debit Credit Sales Returns and Allowances 1. 370 Sales Revenue 370 2. Cash 281 Accounts Payable 281 X Supplies 281 Inventory 281 Sales Discounts 3, 180 Sales Revenue 180 729 Cash 4. Freight-In 81 X TFreight-Out 810