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Crane reported the following transactions for the month of December. The company uses a perpetual inventory system and owned 10,000 units of inventory on December
Crane reported the following transactions for the month of December. The company uses a perpetual inventory system and owned 10,000 units of inventory on December 1. Dec. 1 Paid $366,100 owing to a supplier from a purchase that had been made on account. 1 Paid $14,690 in rent for the month of December. 4 Received $335,890 on account from a customer for a purchase made in November. 6 Sold 4,447 units of merchandise to a Canadian furniture retailers for $2,356,910 on credit, FOB shipping point. 15 Purchased 6,190 units of merchandise from a supplier at a cost of $314 per unit on credit, FOB shipping point. 18 Paid salaries of $119,500. 21 Sold 8,560 units of merchandise for $4,665,200 on account, FOB shipping point. 24 Paid $29,950 for advertising expenses incurred in the month. 27 Purchased 4,590 units of inventory from a supplier at a cost of $298 per unit, FOB shipping point. amounts. Found answers to o decimal ploces, e.g. 5,275. Record journal entries in the order presented in the problem.l (Ta macd sila? [Ta record tus: uf merchendex sadi] (Ta recerd sile: (To record cos: of merchand se soid)
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