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On October 5 , Crane Compary buys merchandive on account from Larkspur Company. The selling price of the goods is 56,500 , and the cost

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On October 5 , Crane Compary buys merchandive on account from Larkspur Company. The selling price of the goods is 56,500 , and the cost to Larkspur Company is $3.520. On October 8 . Crane returns defective goods with a selling price of $720 and a scrap value of $340 Record the transactions on the books of Larkspur Company, assuming a perpetual approach. (II no entry is required, select "No Entry" for the account tities and enter 0 for the amounts. Credit account tities are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

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