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Presented here are selected transactions for the Crane Company during April. Crane uses the periodic inventory system. April Sold merchandise to Land Company for $4,300,
Presented here are selected transactions for the Crane Company during April. Crane uses the periodic inventory system. April Sold merchandise to Land Company for $4,300, terms 2/10, 1/30. The merchandise sold had a cost of $3,900. Purchased merchandise from Webb Corporation for $6,000, terms 1/10, 1/30. Purchased merchandise from Ryan Company for $2,600,n/30. Received payment from Land Company for purchase of April 1 less appropriate discount. Paid Webb Corporation for April 2 purchase. 1 2 4 10 11 Journalize the April transactions for Crane Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Credit Date Account Titles and Explanation Debit Apr. 1 Apr. 2 Apr. 4 Apr. 10 Date Account Titles and Explanation Debit Credit Apr. 1 Accounts Receivable 4300 Sales Revenue 4300 Apr. 2 Cost of Goods Sold 3900 Inventory 3900 Apr. 4 6000 Accounts Payable 6000 Apr. 10 Cash 4214 Sales Discounts 86 Accounts Receivable 4300 Apr 11 Accounts Payable 6000 Inventory 60 Cash 5940
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