Your answer is correct. On March 2, Sheridan Company sold $817,000 of merchandise on account to Grouper Company, terms 4/10, n/30. The cost of the merchandise sold was $576,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Accounts Receivable Sales Revenue (To record credit sale) Cost of Goods Sold Inventory (To record cost of merchandise sold) Debit Credit 817000 817000 576000 576000