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The following transactions occurred in April and May, Both companies use a perpetual inventory system, Apr. 5 Sheridan Compary purchased merchandise from Sunland Company for $12,100, terms 2/10,n/30. FOB shipping point: Sunland had paid $8,800 for the merchandise. 6. The correct company paid freight costs of $300. 8 Sheridan Company returned damagnd merchandise to Sunland Company and was given a purchase allowance of $1,900, Sunland determined the merchandise could not be repaired and sent it to the recyclers. The merchandise had cost. Suntand 51,382 May 4 Sheridan paid the amount due to Sunland Company in full. Prepare the journal entries to record the above transactions for Sheridan Company, (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tifles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries. Prepare the journal entries to record the above transactions for Sunland Company. (Credit account titles are automatically indented when the amount is entered. Do nat indent manually. If no entry is required, select "No Entry" for the account titiles and enter o for the amounts. Record journal entries in the onder presented in the problem. List all debit entries before credit entriesJ (To record cost of goods sold.) eTextbook and Media List of Accounts Shefor Later Attempts: 0 of 2 used Stubritit