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On February 6, Crane Company sold $109,000 of merchandise to the Lyman Company, terms 2/10 net/30. The cost of the merchandise sold was $83,000. On

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On February 6, Crane Company sold $109,000 of merchandise to the Lyman Company, terms 2/10 net/30. The cost of the merchandise sold was $83,000. On February 8, the Lyman Company returned $13,000 of the merchandise purchased on February 6. The cost of the merchandise returned was $9,000. On February 16 Crane Company received the balance due from the Lyman Company Prepare the journal entries to record the above transactions on Crane Company's books using a perpetual inventory system is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (Credit account titles are automatically indented when the ar Date Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of good sold) (To record goods returned) (To record cost of good returned) Click if you would like to Show Work for this question Open Show Work

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