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Crane Co. uses the gross method to record sales made on credit. On June 1, 2017, it made sales of $58,800 with terms 2/15, n/45.

Crane Co. uses the gross method to record sales made on credit. On June 1, 2017, it made sales of $58,800 with terms 2/15, n/45. On June 12, 2017, Crane received full payment for the June 1 sale. Prepare the required journal entries for Crane Co.

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