Prepare a tabular summary to record the following transactions on Sheridan Company's books using a perpetual inventory system.

Include margin explanations for the changes in revenues and expenses.

a$.$ On September $3,$ Sunland Company sold $$798,000$ of merchandise to Sheridan Company on account, terms $\frac{2}{10},\frac{n}{30}.$ The

cost of the merchandise sold was $$490,200.$

b$.$ On September $6,$ Sheridan Company returned $$102,600$ of the merchandise purchased on September $3.$ The seller's cost of

the merchandise returned was $$68,400.$

c$.$ On September $13,$ Sheridan Company paid the balance due to Sunland Company.