repare journal entries to record the following sales transactions in Sheridan Companys books. Sheridan uses a perpetual inventory system.

Jan. 2		Sheridan sold $12,000 of merchandise to Xiaoyan Company, terms n/30, FOB shipping point. The cost of the merchandise sold was $4,740.
4		The correct company paid freight costs of $165.
6		Xiaoyan returned $1,500 of the merchandise purchased on January 2 because it was not needed. The cost of the merchandise returned was $590, and it was restored to inventory.
Feb. 1		Sheridan received the balance due from Xiaoyan.

(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 0 for the amounts. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date Jan. 2Jan. 4Jan. 6Feb. 1	enter an account title to record sales on account	enter a debit amount	enter a credit amount
	enter an account title to record sales on account	enter a debit amount	enter a credit amount
	(To record sales on account.)
choose a transaction date Jan. 2Jan. 4Jan. 6Feb. 1	enter an account title to record cost of goods sold	enter a debit amount	enter a credit amount
	enter an account title to record cost of goods sold	enter a debit amount	enter a credit amount
	(To record cost of goods sold.)
choose a transaction date Jan. 2Jan. 4Jan. 6Feb. 1	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 2Jan. 4Jan. 6Feb. 1	enter an account title to record credit for goods returned	enter a debit amount	enter a credit amount
	enter an account title to record credit for goods returned	enter a debit amount	enter a credit amount
	(To record credit for goods returned.)
choose a transaction date Jan. 2Jan. 4Jan. 6Feb. 1	enter an account title to record cost of returned goods	enter a debit amount	enter a credit amount
	enter an account title to record cost of returned goods	enter a debit amount	enter a credit amount
	(To record cost of returned goods.)
choose a transaction date Jan. 2Jan. 4Jan. 6Feb. 1	enter an account title to record the collection on account	enter a debit amount	enter a credit amount
	enter an account title to record the collection on account	enter a debit amount	enter a credit amount
	(Collection on account.)