Record the following transactions for Cyrus Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. On August 4, Cyrus sold merchandise on account to Swift Company for $700, terms 2/10, n/30. On August 7, Cyrus granted Swift a sales allowance and reduced the cost of the merchandise by $50 because some of the goods were slightly damaged. 3. On August 12, Swift paid the account in full. 2. No. Account Titles and Explanation Debit Credit 1. 2.