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Swifty Company buys merchandise on account from Blue Spruce Company for $688. Swifty sells the goods to Ellis for $1,044 cash. Use a tabular summary to record the transactions for Swifty Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. - Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. - Increases in expenses require a negative sign or parentheses. - Reductions in revenues require a negative sign or parentheses. Swifty Company buys merchandise on account from Blue Spruce Company for $688. Swifty sells the goods to Ellis for $1,044 cash. Use a tabular summary to record the transactions for Swifty Company using a perpetual imventory system. Include margin explanations for the changes in revenues and expenses. - Decreases in assets, liabilities, or stockholders' equity require a negotive sign or parentheses. - Increases in expenses require a negative sign or parentheses. - Reductions in revenues require a negative sign or parentheses. Use a tabular summary to rocord the following transactions for Pharoah Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (a) On March 2, Pharoah Company sold $720,000 of merchandise to Sheridan Company on account. The cost of the merchandise sold was $486,000. (b) On March 6, Sheridan Company returned \$126,000 of the merchandise purchased on March 2. The cost of the merchandise returned was $84,600. (c) On March 12, Pharoah Company recelved the balance due from Sheridan Company. - Decreases in assets, Mlabilities, or stockholders' equity require a negative sign or porentheses. - Increases in oxpenses require a negative sign or porentheses. - Reductions in revenues require a negative sign or parentheses, (b) On March 6, Sheridan Company returned $126,000 of the merchandise purchased on March 2. The cost of the merchandise returned was $84,600. (c) On March 12, Pharoah Company received the balance due from Sheridan Company. - Decreases in assets, liabilities, or stockholders' equity require a nezative sign or parentheses. - Increases in expenses require a negative sign or parentheses. - Reductions in revenues require a negative sign or parentheses