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Question 1 of 40 View Policies Current Attempt in Progress Sheridan Co. records...

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Accounting

Question 1 of 40
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Sheridan Co. records purchases at net amounts and uses periodic inventories. Prepare entries for the following: (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
June 11 Purchased merchandise on account, $15,500, terms 210,n30.
15 Returned part of June 11 purchase, $850, and received credit on account.
30 Prepared the adjusting entry required for financial statements.
Date
Account Titles and Explanation
Debit
Credit
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