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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
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 $680, terms 2/10, n/30. |
2. | On August 7, Sheridan granted Swift a sales allowance and reduced the cost of the merchandise by $80 because some of the goods were slightly damaged. |
3. | On August 12, Swift paid the account in full. |
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