On March 10, 2025, Crane Company sold to Windsor Hardware 220 tool sets at a price of $50 each (cost $32 per set) with terms of n/60, f.o.b. shipping point. Crane allows Windsor to return any unused tool sets within 60 days of purchase. Crane estimates that (1) 10 sets will be returned, (2) the cost of recovering the products will be immaterial, and (3) the returned tools sets can be resold at a profit. On March 25, 2025, Windsor returned 7 tool sets and received a credit to its account. Assume that instead of selling the tool sets on credit, that Crane sold them for cash. (a) Prepare journal entries for Crane to record (1) the sale on March 10, 2025, (2) the return on March 25, 2025, and (3) any adjusting entries required on March 31, 2025 (when Crane prepares financial statements). Crane believes the original estimate of returns is correct. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) h 25,2025 Sales Returns and Allowances Accounts Payable (To record sales returns) Returned Inventory Cost of Goods Sold (To record cost of goods returned) Sales Returns and Allowances Accounts Payable (Adjusting entry for sales returns) Estimated Inventory Returns Cost of Goods Sold (Adjusting entry for cost of goods sold) Indicate the income statement reporting by Crane at March 31,2025, of the information related to the Windsor sale Your answer is partially correct. Indicate the balance sheet reporting by Crane at March 31, 2025, of the information related to the Windsor sales