Prepare the journal entries to record the following sales transactions in Sheffield Corp.'s books. Sheffield uses a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Jan. 2 5 6 Sheffield sold $38,000 of goods to Xtra Inc., terms n/45, FOB destination. The cost of the goods sold was $21,280. Sheffield expected a return rate of 15%. The appropriate company paid freight costs of $760. Xtra returned $5,000 of the merchandise purchased from Sheffield on January 2, because it was not needed. The cost of the merchandise returned was $2,800, and it was restored to inventory. 11 Sheffield received the balance due from Xtra. Date Account Titles and Explanation Debit Credit Jan. 2 2 (To record credit sale) 5 (To record cost of goods sold) 6 6 (To record return of goods) 11 (To record cost of goods returned)