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Prepare journal entries to record the following sales transactions in Crane Company's books. Craneses a perpetual inventory system an 4 Crane vol 510.000 or merchandise
Prepare journal entries to record the following sales transactions in Crane Company's books. Craneses a perpetual inventory system an 4 Crane vol 510.000 or merchandise 6Xayan Company.com.30. For shipping point. The cost of the merchandise sold was $3.950 The correct company paid freight costs of $155 layan returned $1.800 of the merchandise purchased on January 2 because it was not needed. The cost of the merchandise returned was 5710, and it was restored to inventory Crane received the balance due from Xiaoya. 6 Feb 1 Creditoccountities are automatically indented when the amount is entered. Do not inden manually to try is required select "Me Entry for the accountities and enter for the amounts. Recordjoumal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To records on count) (Tecondstof (To record cost of goods sold) (to record credit for good returned) (to recorded
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