Please follow the list of accounts that I have provided, thank you in advance! 
On June 10, Crane Company purchased $8,300 of merchandise from Sheridan Company, terms 4/10,n/30. Crane Company pays the freight costs of $440 on June 11. Goods totaling $700 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. Prepare separate entries for each transaction on the books of Crane Company. (If no entry is required, select "No Entry" for the account titles and enter Ofor 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 June 10 Inventory 8300 Accounts Payable 8300 June 11 Inventory 440 Cash 440 June 12 Accounts Payable 700 Inventory 700 June 19 Accounts Payable 7600 Cash 7296 Purchase Discounts 304 Prepare separate entries for each transaction for Sheridan Company. The merchandise purchased by Sheridan Company on June 10 cost McGiver $3,590, and the goods returned cost Sheridan Company $240. (If no entry is required, select "No entry" for the account titles and enter 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 June 10 Accounts Receivable 8300 Sales Revenue 8300 (To record credit sale) Cost of Goods Sold Inventory (To record cost of goods sold) June 11 June 12 V Sales Returns and Allowances 700 Accounts Receivable 700 (To record credit sale) Inventory Cost of Goods Sold (To record cost of goods returned) ne 19 Cash Sales Discounts Accounts Receivable List of Accounts Assistance Used Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Administrative Expenses Advertising Expense Amortization Expense Buildings Cash Common Stock Cost of Goods Sold Depreciation Expense Dividends Equipment Freight-In Freight-Out Gain on Disposal of Plant Assets Income Tax Expense Income Taxes Payable Insurance Expense Interest Expense Interest Payable Interest Revenue Inventory Inventory Land Loss on Disposal of Plant Assets Maintenance and Repairs Expense Mortgage Payable No Entry Notes Payable Prepaid Insurance Purchase Discounts Purchase Returns and Allowances Purchases Rent Expense Rent Revenue Research and Development Expense Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Discounts Sales Returns and Allowances Sales Revenue Supplies Supplies Expense Unearned Service Revenue Utilities Expense Website
