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On June 10 , Sheridan Company purchased 510,000 of merehandise on account from Concord Company. F0.3 shippinc point. terms 2/10, n/30. Sheridan pays the freight

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On June 10 , Sheridan Company purchased 510,000 of merehandise on account from Concord Company. F0.3 shippinc point. terms 2/10, n/30. Sheridan pays the freight costs of $500 on June 11 Goods totaling $300 are returned to Concord for eredit on Aune 12 On June 19, Sheridan pays Concord Compary in full, less the discount. Both companies use a perperual inentory system. (a) Prepare separate entries for each transaction on the books of Sheridan Company. (Ust oll debit entries before credit entries Credit occount tities are outomotically indented when amount is entered. Do not indent manually. If no entry is required, seiect "No Entry" for the occount titles and enter O for the amounts)

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