Information related to Crane Co. is presented below. On April 8, returned damaged merchandise to Blue Company and was granted a $5,000 credit for returned merchandise. On April 15, paid the amount due to Blue Company in full. (Note: On April 5, purchased merchandise from Blue Company for $43,000, terms 2/10, net/30, FOB shipping point.) 2. (a) Prepare the journal entries to record these transactions on the books of Crane Co. under a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Date Account Titles and Explanation 1. 2 Debit Credit