Use a tabular summary to record the following transactions for Sheridan Company using a perpetual inventory system.

(a) On March 2, Sheridan Company sold $944,100 of merchandise to Crane Company on account. The cost of the merchandise sold was $529,100.

(b) On March 6, Crane Company returned $112,100 of the merchandise purchased on March 2. The cost of the merchandise returned was $60,100.

(c) On March 12, Sheridan Company received the balance due from Crane Company.

(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets Liabilities + Cash + + Accts. Rec. Accts. Rec. + Inv. Inv. - Accts. Pay. + Common Stock a) Mar. 2 $ 944,100 c 12 Stockholders' Equity Retained Earnings Common Stock + Rev. Exp. $ Accounts receivable Bad debt expense Cost of goods sold Sales returns & allowances Sales revenue