The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec. 3 Sheffield Ltd. sold goods to Bramble Corp. for $83,000, terms n/15, FOB shipping point. The inventory had cost. Sheffield $44,200. Sheffield's management expected a return rate of 3% based on prior experience. 7 Shipping costs of $1,160 were paid by the appropriate company, 8 Bramble returned unwanted merchandise to Sheffield. The returned merchandise has a sales price of $2,560, and a cost of $1,360. It was restored to inventory. 11 Sheffield received the balance due from Bramble. rd the above transactions in the books of Sheffield. (List all debit entries before credit entries. Credit account titles are natically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account t enter O for the amounts. Round answers to the nearest whole dollor, eg. 5,275.) Dec7 No Entry \begin{tabular}{|l|l|} \hline & 0 \\ \hline \end{tabular} Noentry Refund Liability Accounts Receivable (To record return of goods) Inventory Estimated inventory Returns (To record cost of merchandise returned) Type here to search Record the above transactions in the books of Bramble, (List all debit entries before credit entries. Credit account titles are outomatically indented when the omount is entered. Do not indent manually. If no entry is required, select "No Entry" for the o and enter 0 for the omounts. Round answers to the nearest whole dollar, eg. 5,275.)