Crane Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April 3 6 7 Purchased merchandise from Sarasota Ltd. for $35,280, terms n/30, FOB shipping point. The appropriate company paid freight costs of $882 on the merchandise purchased on April 3. Purchased supplies on account for $6,300. Returned merchandise to Sarasota and received a credit of $4,410. The merchandise was returned to inventory for future resale. Paid the amount due to Sarasota in full. 8 30 1. 2. The cost of the merchandise sold on April 3 was $23,940. Sarasota expected a return rate of 15%. The cost of the merchandise returned on April 8 was $2,898. Sarasota uses a perpetual inventory system. 3. Record the transactions in the books of Sarasota. (List all debit entries before credit entries. 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 O for the amounts.) Date Account Titles and Explanation Debit Credit Apr. 3 (To record credit sale) Apr. 3 (To record cost of merchandise sold) Apr. 6 Apr. 7 Apr. 8 (To record return of goods) Apr. 8 NOTE (To record cost of merchandise returned) Apr. 30 V