Assuming that Sheridan uses the periodic method for recording merchandise transactions, record the purchase, and try is required, for the account titles and enter for the amounts. Round answers to decimal places, -6,57 Credit cardented when interes manually.) Date Account Tities and Explanation Debt Credit SHOW LIST OF ACCOUNTS At what amount would the purchase on February 1 be recorded if the net method were used? (Round answer to o decimal places, e.g. 6,578.) Net price 20 Exercise 3-08 Sheridan Industries purchased 11,000 of merchandise on February 1, 2020, wject to trade diacount of ion and with red terms 216 ... you are discount) on February 4. The invoice was paid on February 13. Assuming that Sheridan uses the perpetual method for recording merchandise transactions, record the purchase, return, and payment in the more entry "entry for the account titles and enter for the amounts. Round answers to decimal places, eg. 6,578. Credit account titles are automatically indeed when amount is entered. De net inder manually.) Date Account Tities and Explanation Debit Credit Feb. 1 Inventory 9900 Accounts Payable 9900 Feb. 4 Accounts Payable 2070 Inventory 2070 7830 Feb. 13 Accounts Payable 7595 Cash 235 Inventory