chapter 8

d the following transactions on the books of Crane Co. (Omit cost of goods sold entries.) (List all debit entries before credit s. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal s in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for mounts.) On July 1, Crane Co. sold merchandise on account to Stacey Inc. for $21,860, terms 3/10,n/30. On July 8 , Stacey Inc, returned merchandise worth $2,360 to Crane Co. On July 11, Stacey Inc. paid for the merchandise. hily 1 Accounts Receivible Sales Revenue: July 8 Soles Returns and Allowances Accounts Recelvable July 11 : Nccounts Receivatie 20000