(a) (b) (c) On March 2, Crane Company sold $901,300 of merchandise to Larkspur Company on account, terms 3/10, n/30. The cost of the merchandise sold was $559,000. On March 6, Larkspur Company returned $117,700 of the merchandise purchased on March 2. The cost of the merchandise returned was $66,800. On March 12, Crane Company received the balance due from Larkspur Company. Date Account Titles and Explanation March 2 Inventory March 2 Accounts Payable (To record sale of merchandise on account) Inventory March 2 Accounts Recelvable (To record cost of goods sold) Accounts Receivable March 6 Inventory (To record return of merchandise) Accounts Payable arch 12 Inventory (To record cost of goods returned) Accounts Payable Inventory Cash Debit 901300 1000 10 10 LOL Credit 901300 559000 66800 117700 760092 23508 ON UN UN DAA