Presented below are transactions related toCraneCompany.

1.On December 3,CraneCompany sold $572,300of merchandise on account toBlueCo., terms3/10, n/30, FOB destination.Cranepaid $310for freight charges. The cost of the merchandise sold was $371,400.2.On December 8,BlueCo. was granted an allowance of $25,200for merchandise purchased on December 3.3.On December 13,CraneCompany received the balance due fromBlueCo.

(a)

Prepare the journal entries to record these transactions on the books ofCraneCompany using a perpetual inventory system.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Date

Account Titles and Explanation

Debit

Credit

1.choose a transaction date

Dec. 3

Dec. 8

Dec. 13

Jan. 2

enter an account title to record credit sale

enter a debit amount

enter a credit amount

enter an account title to record credit sale

enter a debit amount

enter a credit amount

(To record credit sale)

choose a transaction date

Dec. 3

Dec. 8

Dec. 13

Jan. 2

enter an account title to record cost of merchandise sold

enter a debit amount

enter a credit amount

enter an account title to record cost of merchandise sold

enter a debit amount

enter a credit amount

(To record cost of merchandise sold)

choose a transaction date

Dec. 3

Dec. 8

Dec. 13

Jan. 2

enter an account title to record freight charges

enter a debit amount

enter a credit amount

enter an account title to record freight charges

enter a debit amount

enter a credit amount

(To record freight charges)2.choose a transaction date

Dec. 3

Dec. 8

Dec. 13

Jan. 2

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

3.choose a transaction date

Dec. 3

Dec. 8

Dec. 13

Jan. 2

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount