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Crane Co. uses the gross method to record sales made on credit. On July 1, 2020, it made sales of 84,000 with terms 2/10 n/30.

Crane Co. uses the gross method to record sales made on credit. On July 1, 2020, it made sales of 84,000 with terms 2/10 n/30. On July 9, 2020, Crane received full payment for the July 1 sale. Prepare the required journal entries for Crane Co. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

July 1July 9July 30

July 1July 9July 30

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