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Current Attempt in Progress On June 10, Crane Company purchased $9,540 of merchandise from Cullumber Company, on account, terms 3/10, 1/30. Crane pays the freight

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Current Attempt in Progress On June 10, Crane Company purchased $9,540 of merchandise from Cullumber Company, on account, terms 3/10, 1/30. Crane pays the freight costs of $520 on June 11. Goods totaling $740 are returned to Cullumber for credit on June 12. On June 19, Crane Company pays Cullumber Company in full less the purchase discount. Both companies use a perpetual inventory system Use a tabular summary to record transaction on the books of Crane Company. Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the number es-45 or parentheses es- (45) Liabilities Assets Date Cash Inventory Accounts Payable Oct 10 $ S $ $ 11 12 19

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