Prepare the journal entries to record the following transactions on Sheridan Company's books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter O 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.) (a) (b) (c) On March 2, Sheridan Company sold $893,700 of merchandise to Skysong Company on account, terms 2/10, n/30. The cost of the merchandise sold was $577,200. On March 6, Skysong Company returned $119,100 of the merchandise purchased on March 2. The cost of the merchandise returned was $61,300. On March 12, Sheridan Company received the balance due from Skysong Company. Date Account Titles and Explanation March 12 (To record sale of merchandise) (To record return of merchandise) Debit Credit