On October 5, Crane Company buys merchandise on account from Sheridan Company. The selling price of the goods is $6,290, and the cost to Sheridan Company is $3,650. On October 8, Crane Company returns defective goods with a selling price of $970 and a scrap value of $360. Record the transactions on the books of Sheridan Company, assuming a perpetual approach. (If no entry is required, select "No Entry" for the account titles and enter 0 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
Oct. 5Oct. 8
	(To record credit sales)
	(To record cost of goods sold on account)
Oct. 5Oct. 8
	(To record credit granted for receipt of returned goods)
	(To record scrap value of goods returned)