Exercise 6-2 The following transactions are for Sheridan Company. 1. On December 3, Sheridan Company sold $517,200 of merchandise to Crane Co. on account. The cost of the merchandise sold was $322,900. 2. On December 8, Crane Co. returned $22,800 of merchandise purchased on December 3. The cost of the goods was $16,000. 3. On December 13, Sheridan Company received the balance due from Crane Co. Prepare a tabular summary to record these transactions for Sheridan Company using a perpetual inventory system. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Assets - Liabilities Stockholders' Equity Retained Earnings Exp. Cash Accts. Rec. Inv - Accts. Pay. + Common Stock + Dec. 3 13