Brief Exercise 5-05 Prepare the journal entries to record the following transactions on Sheridan Company's books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 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.) (a) (b) On March 2, Skysong Company sold $893,700 of merchandise to Sheridan Company on account, terms 2/10, n/30. The cost of the merchandise sold was $577,200. on March 6, Sheridan Company returned $119,100 of the merchandise purchased on March 2. The cost of the merchandise returned was $61,300. On March 12, Skysong Company received the balance due from Sheridan Company. (c) No. Date Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work