Crane Leather Goods buys merchandise on account from Larkspur Tannery. The selling price of the goods...

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Crane Leather Goods buys merchandise on account from Larkspur Tannery. The selling price of the goods is 1,210, and the cost of the goods is 850. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (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.) Account Titles and Explanation Crane Leather Goods Larkspur Tannery. (To record credit sale) (To record cost of merchandise sold) Crane Leather Goods buys merchandise on account from Larkspur Tannery. The selling price of the goods is 1,210, and the cost of the goods is 850. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (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.) Account Titles and Explanation Crane Leather Goods Larkspur Tannery. (To record credit sale) (To record cost of merchandise sold)