Presented below are transactions related to Crane, Inc.

May $10$ Purchased goods billed at $$15,800$ subject to cash discount terms of $\frac{2}{10},\frac{n}{60}.$

$11$ Purchased goods billed at $$13,800$ subject to terms of $\frac{1}{15},\frac{n}{30}.$

$19$ Paid invoice of May $10.$

$24$ Purchased goods billed at $$10,300$ subject to cash discount terms of $\frac{2}{10},\frac{n}{30}.$

$($a$)$

$6$ Your answer is partially correct.

Prepare general journal entries for the transactions above under the assumption that purchases are to be recorded at net amounts after cash discounts and that discounts lost are to be treated as financial expense. $($If no entry is required, select $"$No entry" for the occount titles and enter $0$ for the amounts. Credit account titles are outomatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Presented below are transactions related to Crane, Inc.

May $10$ Purchased goods billed at $$15,800$ subject to cash discount terms of $2/10,$ n$/60.$

$11$ Purchased goods billed at $$13,800$ subject to terms of $1/15,$ n$/30.$

$19$ Paid invoice of May $10.$

$24$ Purchased goods billed at $$10,300$ subject to cash discount terms of $2/10,$ n$/30.$

$($a$)$

Your answer is partially correct.

Prepare general journal entries for the transactions above under the assumption that purchases are to be recorded at net amounts after cash discounts and that discounts lost are to be treated as financial expense. $($If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.$)$