Sheridan Company purchased merchandise on account from Office Suppliers for $72,000, with terms of 1/10, n/30. During the discount period, Sheridan returned some merchandise and paid $60,192 as payment in full. Sheridan uses a perpetual inventory system. Prepare the journal entries that Sheridan Company made to record the: (1) (2) (3) purchase of merchandise. return of merchandise. payment on account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) (2) (3)