Crane Company commenced operations on July 1 Crane Company uses a periodic inventory system. During July, Crane Company was involved in the following transactions and events: July 2 3 4 8 Purchased $14,600 of merchandise from Suppliers Inc. on account, terms 2/10, n/30, FOB shipping point. Returned $1.200 of merchandise to Suppliers Inc, as it was damaged. Received a credit on account from Suppliers. Paid $590 of freight costs on July 2 shipment. Sold merchandise for $2,300 cash. Paid Suppliers Inc. the full amount owing. Sold merchandise for $6,000 on account. 1/10. n/30, FOB shipping point Received full payment for the merchandise sold on July 15. Crane did a physical count and determined there was $10.500 of inventory on hand. 11 15 25 31 Record the transactions in Crane Company's books. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Record journal entries in the order presented in the problem.)