On June 10, Crane Company purchased goods from FOB shipping point Pronghorn Company for $9,000 on account, terms 2/10, n/30. Crane pays the $550 freight on June 11th. Damaged goods totaling $350 will be returned to Pronghorn for credit on June 12. The fair value of these goods is $80. On June 19, Crane pays Pronghorn Company in full, less the purchase discount. Both companies use a perpetual inventory system.

Prepare separate entries for each transaction in Crane Company's ledgers. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record the journal entries in the order given in the problem.)

B.

Below are the transactions related to Wildhorse Company. Prepare journal entries to record these transactions in Wildhorse Company's books using a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

1.		On December 3, Wildhorse Company, Novak Co. sold $593,600 in merchandise for his account, terms 4/10, n/30, FOB destination. Wildhorse paid $430 for freight charges. The cost of goods sold was $383,200.
2.		On December 8, Novak Co. was awarded an allowance of $29,300 for goods purchased on December 3.
3.		On December 13, Wildhorse Company received the balance due from Novak Co.