Exercise 5- An inexperienced accountant for Blue Spruce Corp. made the following errors in recording merchandising transactions 1. A $260 refund to a customer for faulty merchandise was debited to Sales Revenue $260 and credited to Cash $260. 2. A $311 credit purchase of supplies was debited to Inventory $311 and credited to Cash $311 3. A $250 sales discount was debited to Sales Revenue 4. A cash payment of $21 for freight on merchandise purchases was debited to Freight-Out $210 and credited to Cash $210. 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 1. Debit Credit 2. 3. 4