Exercise 5-4 On June 10, Crane Company purchased $6,100 of merchandise from Sheridan Company, terms 2/10, n/30. Crane Company pays the freight costs of $360 on June 11. Goods totaling $400 are returned to Sheridan Company for credit on June 12. On June 19, Crane Company pays Sheridan Company in full, less the purchase discount. Both companies use a perpetual inventory system