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only need the last 3 blanks. Prepare the journal entries to record the following transactions on Crane Company's books using a perpetual inventory system. (If
only need the last 3 blanks.
Prepare the journal entries to record the following transactions on Crane Company's books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) (b) On March 2, Larkspur Company sold $898,900 of merchandise to Crane Company on account, terms 2/10,n/30. The cost of the merchandise sold was $519,500 On March 6, Crane Company returned $100,200 of the merchandise purchased on March 2. The cost of the merchandise returned was $61,900 On March 12. Larkspur Company received the balance due from Crane Company (c) Date Account Titles and Explanation Debit Credit March 2 Inventory 899900 Accounts Payable 89894 March 6 Accounts Payable 100200 Date Account Titles and Explanation Debit Credit March 2 Inventory 898900 Accounts Payable 89896 March 6 Accounts Payable 100200 Inventory 10020 March 12 Accounts Payable Inventory Cash Tothonandodis Step by Step Solution
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