Question 7 are for Crane Company 1 On December 3, Crane Company sold $ 513.500 of merchandise to Sherldan Co, terms 3/10, n/30. The cost of the merchandise sold was $ 318,300 2. On December 8, Sheridan Co. was granted an allowance of $ 24,700 for merchandise purchased on December 3 is required, select "No Entry" for the account titles and enter O for the amounts Credit account tities are automatically indented when amount is entered. Do not Debit Credit (To record credit sale) To record cost of merchandise sold)