Record the following transactions for Sheridan Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) 1. On August 4 , Sheridan sold merchandise on account to Swift Company for $560, terms 2/10,n/30. 2. On August 7, Sheridan granted Swift a sales allowance and reduced the cost of the merchandise by $60 because some of the goods were slightly damaged. 3. On August 12, Swift paid the account in full. Week 9 - Homework: Chapter 9 Question 1 of 5 5/73 No. Account Titles and Explanation Debit Credit 1. Accounts Receivable 560 Sales Revenue 560 2. Sales Returns and Allowances 60 Sales Returns and Allowances 60 3. Cash 548 548 Sales Discounts 12 12 Accounts Receivable 560