Brief Exercise 8-02Record the following transactions on the books of Sheridan Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)(a) On July 1, Sheridan Co. sold merchandise on account to Stacey Inc. for $21,540, terms 4/10, n/30.(b) On July 8, Stacey Inc. returned merchandise worth $2,540 to Sheridan Co.(c) On July 11, Stacey Inc. paid for the merchandise.DateAccount Titles and ExplanationDebitCreditChoose a transaction date July 1July 8July 11Enter 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 July 1July 8July 11Enter 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 July 1July 8July 11Enter an account title Enter a debit amount Enter a credit amount  Enter an account title Enter a debit amount Enter a credit amount  Enter an account title Enter a debit amount Enter a credit amount

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Asked Oct 28, 2019
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Brief Exercise 8-02

Record the following transactions on the books of Sheridan Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

(a)   On July 1, Sheridan Co. sold merchandise on account to Stacey Inc. for $21,540, terms 4/10, n/30.
(b)   On July 8, Stacey Inc. returned merchandise worth $2,540 to Sheridan Co.
(c)   On July 11, Stacey Inc. paid for the merchandise.

Date
Account Titles and Explanation
Debit
Credit
Choose a transaction date
 July 1July 8July 11
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
 July 1July 8July 11
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
 July 1July 8July 11
Enter an account title
 
Enter a debit amount
 
Enter a credit amount
 
 
Enter an account title
 
Enter a debit amount
 
Enter a credit amount
 
 
Enter an account title
 
Enter a debit amount
 
Enter a credit amount
 
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Accounts receivable:

Accounts receivable refers to the amounts to be received within a short period from customers upon the sale of goods and services on acco...

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