Crane Manufacturing Inc. is a local manufacturing company, Rather than sell its product directly, Craneships its fuished goods inventory to CMR Retailing Ltd, who sells the product for Crane on consignment. During 2020, Crane ships $119.000 in merchandise to CMR At the end of 2020, CMR has sold 65% of the merchandise for $79,000. CMR notifies Crand at the sales retains a 20% commission, and remits the cash che to Crane. Prepare all the necessary journal entries on the books of Crane Manufacturing to record the consignment transactions. (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 for the amounts.) Debit Credit No. Account Titles and Explanation 1. (To record shipped merchandise) 2. (To record year end sales entry) 3. (To record year end cost of goods) EN Prepare the journal entries on the books of CMR talling to record the consignment tractions. Com any incontinenth Donutily If hin, "No Fiew the ces and enter for the Dehlt Cret Nes. Account Titles and Explanation 1. To record year end sales entry) 2. To record remittance to consignar