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Exercise 5-15 (Part Level Submission) This information relates to Sheridan Co. 1. On April 5, purchased merchandise from Crane Company for $26,700, terms 2/10, n/30.
Exercise 5-15 (Part Level Submission) This information relates to Sheridan Co. 1. On April 5, purchased merchandise from Crane Company for $26,700, terms 2/10, n/30. 2. On April 6, paid freight costs of $2,700 on merchandise purchased from Crane Company, 3. On April 7, purchased equipment on account for $37,700. 4. On April 8, returned some of the April 5 merchandise to Crane Company, which cost $4,300. 5. On April 15, paid the amount due to Crane Company in full. (a) Prepare the journal entries to record these transactions on the books of Sheridan Co. using a periodic Inventory system. (If no entry is required, select "No Entry" for the account titles and enter o 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.) Date Account Titles and Explanation Debit Credit
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