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Prepare the journal entries to record the following transactions on Crane Company's books using a perpetual inventory system. On March 2, Crane Company sold $999,000of

Prepare the journal entries to record the following transactions on Crane Company's books using a perpetual inventory system.

On March 2, Crane Company sold $999,000of merchandise on account to Blue Company, terms3/10, n/30. The cost of the merchandise sold was $523,000.

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